As an estate planning attorney, we routinely deal with people's desires about how they leave their estate behind, and how to do it in the most efficient and streamlined manner.
But many of these same people want to discuss how their estate can be protected while they are alive, whether those protections are from taxes, nursing home expenses, or due to our litigious society, from lawsuits and judgments.
There is much discussion about how a limited liability company (LLC) member is not personally responsible for the debts of the LLC.
But there is not much discussion about whether a member's LLC interest is protected in the event that member has a personal liability.
In general, a creditor of a LLC member can get a charging order, which gives the creditor the right to receive payments from the LLC under limited circumstances.
For prospective law firm clients who want to schedule a free 15 minute initial phone call with Paul Rabalais, go to: https://go.oncehub.com/Paul8
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Louisiana Estate Planning Attorney
Phone: (225) 329-2450