If you are a small business owner, investor or high-net-worth individual, you’ve probably heard a lot lately about the limited liability company. The hot organizational structure that business people and investors nationwide are rushing to take advantage of, the LLC combines all the tax benefits associated with partnerships with the limited liability protection of a corporation. Now legal in 48 states, LLCs are considerably cheaper, simpler and easier to maintain that alternative organizational forms, including Subchapter S corporations and limited family partnerships. Now you can find out how a limited liability company can work for you and exactly what you need to do to set up and operate one in this complete guide. Leading tax and estate planning attorney and best-selling business author Martin Shenkman and his co-authors explain how to apply LLCs to operating a business, estate planning, protecting assets, real estate acquisitions, professional practices, avoiding ancillary probate and venture capital operations. In addition, this book describes how to convert partnerships and various corporate forms into LLCs and includes a detailed glossary, along with checklists and loads of sample legal forms you can use.