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.