“Fantastic firm for living trust documents and small business. As owners of Blarney Stone Pub, they have quickly and seamlessly guided us throughout the years. My parents have been clients for a long time, and upon my father’s passing, they made sure all legal documents were in order. Great staff & even have free parking. I will definitely continue to be a client. Thanks so much!!” –Kim Keane
The majority of American small business operations are poorly organized and improperly maintained. Unfortunately, this puts the hardest working among us at risk of losing their personal and professional security.
The solution is often inexpensive and relatively simple to implement. Morever, without the proper structure, the work of a business may open the owner to personal liability and place his family’s financial security at risk.
Tuohy Law Offices has represented small business owners for over 3 decades. We analyze your current business and determine the most appropriate structure for maximum liability protection. Furthermore, we provide ongoing support and complimentary updates on the laws that affect your business and your family.
Depending on your circumstances, a simple “S” Corporation may be appropriate. However, if your business investments are varied, or if you have several partners, a Limited Liability Company (LLC) may be best for you. As an example, If you invest in real estate, it is essential to consider an LLC. Illinois is one of the few states to permit “series” in LLC’s. This allows for different members, liabilities and assets in each series and permits for segregation of liabilities in separate series. Consequently, a series LLC is especially useful for investment real estate and it is useful for managing additional investors in different series.
It is essential to properly maintain your corporate records. Unfortunately, many business owners never keep these important records current. Failure to do so could “pierce the corporate veil,” exposing you and your family to personal liability for the debts of your business.
If you are a small business owner, contact us today to determine if your professional and personal interests are protected.
Call Tuohy Law Offices today at 312-559-8400 for a free no obligation consultation about your business.