Limited-Liability Limited Partnerships (LLLP)
InCorp prices starting at $119 plus applicable state fees
You may wish to consider owning your company in a LIMITED LIABILITY LIMITED PARTNERSHIP ("LLLP" or "Triple LP") for enhanced protection from lawsuits.
For lawsuit protection, assets held by the LLLP do not belong to the individual partners themselves, and under recent Nevada statutory law, a creditor
may not pierce the Limited Partnership. He is limited to only obtaining a "charging order" as his sole remedy - which may prove fruitless if the General
Partner (you) decide not to make distributions.
Limited-Liability Limited Partnerships are different from traditional Limited Partnerships. General partners are individually and jointly responsible
for obligations and debts of the limited partnership, whereas in the case of LLLP, partners are not legally liable for obligations and debts that exceed
their own capital contributions.
The Triple LP should also own those investments that are not inside of a Retirement Account – i.e., Mutual Funds, Brokerage Accounts, etc.
you can lose your cherished personal assets in a lawsuit. The LLLP allows you to achieve what John D. Rockefeller once suggested:
"Own Nothing but Control Everything."
Note that LLLP entities require registered agent
service for compliance. InCorp can provide this service for a low annual fee.