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LLC

Discount for Lack of Marketability

Discount for Lack of Marketability

There is a concept in estate and tax planning called Discount for Lack of Marketability. Basically, it says that assets in a company are not as valuable as assets owned directly by a person.  This can save a family a ton of money in estate taxes if

LLC Operating Agreement Template – Is Bigger Better?

LLC Operating Agreement Template – Is Bigger Better?

An LLC operating agreement template lets you write your own LLC operating agreement. The operating agreement is a fundamental part of your company’s legal protection, yet many small businesses don’t have one. If they do have one, it is often only a 5-page token effort. What difference

Business Start-up Labyrinth-Finding Your Way

Business Start-up Labyrinth-Finding Your Way

Business start-up labyrinth causing you trouble? You are not alone. Many who have a small business start-up are confused when trying to pick the right entity, or frustrated when trying to fill out the formation documents or know what they need to do to keep up the

Family Limited Partnership and Asset Protection

Family Limited Partnership and Asset Protection

A Family Limited Partnership or FLP is a legal tool designed to centralize a family business or family assets into a single holding entity for asset protection and tax savings. FLPs unique tax ability can be used to minimize estate taxes by transferring FLP shares between generations,

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Testimonials

We wish everyone in America had the means to obtain the knowledge that Attorney Lee Phillips is attempting to impart in the Accumulation and Preservation of Wealth course. We are thankful that there is a legal system that is designed to protect people’s assets, no matter how little or how much.
~ Ed, Dallas Texas