We create entities for asset protection and/or asset management. We also assist closely held businesses and family businesses to establish the appropriate entity structure and advise on the related income taxes. Entities that we frequently implement and maintain include family limited partnerships, limited liability companies, and corporations.
One benefit of an entity is asset protection. It is common to hold rental real estate inside an entity to avoid liability exposure of other personal assets. Another benefit is to facilitate common management of family-owned assets such as a ranch or family business.
Most types of entities require annual filings with the Texas Comptroller and a separate income tax return. Annual minutes are also required to document the entity’s activities. Sharpe Law Group has a team of attorneys and paralegals who regularly assist with annual minutes and filings and advise on ongoing questions related to administration of the entity.
Call us at 214-742-6065 or Contact Us Here to book your initial meeting with one of our experienced estate planning attorneys in our Dallas or Plano office.
Sharpe Law Group
6688 N. Central Expy, Suite 450
Dallas, Texas 75206