LIMITED LIABILITY PARTNERSHIPS (LLPs)
Limited Liability Partnerships ("LLPs") are a great way to minimize liability to its limited partners. However, each LLP needs a general partner. This brave soul assumes liability for the entire partnership, including its debts. But there are still some ways to get around personal liability for general partners. This requires a trained legal mind.
There are certain procedural matters that must be taken into account when forming a limited liability partnership. To make sure you do things correctly to take advantage of the benefits provided to limited partners of LLPs, contact us.