Business Entities

We may advise or suggest to you that you form a business entity as a part of
your estate plan. This may be a Corporation, Limited Liability Company, Limited
Partnership, or any of several other possibilities. Different business forms have
different attributes, both as to taxation and as to the ultimate transfer of
ownership interests. Often this is done to create "pockets" of liability protection
so as to limit exposure of remaining assets. This may also be done to facilitate
the transfer of ownership in a business, farm, or other asset.

We are strong believers in the use of Limited Liability Companies ("LLC's"),
and believe them to be overall the most powerful and flexible tool available for
most purposes. We have been involved in the use of LLC's since their
inception. In fact, we organized and filed the 6th LLC to be established in the
State of Missouri! This is not to say, of course, that they are to be used to the
exclusion of other entities. They simply are the easiest to organize and maintain
of those business organizations that we commonly use.

Whether or not the use of an LLC or a different
type of business organization is appropriate for you
depends on your facts and circumstances. Let us
know if you have questions.

You may wish to visit the website of the Missouri
Secretary of State's Office by clicking the link to the
left.

Business Entity Formation

Missouri Estate Planning

(816) 628-4900

Attorney at Law

Richard J. Herndon