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Updated almost 9 years ago on . Most recent reply presented by

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560
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Daren H.
  • Real Estate Investor
  • Desoto, TX
528
Votes |
560
Posts

RE Attorney to set up a Non-RE related LLC????

Daren H.
  • Real Estate Investor
  • Desoto, TX
Posted

My RE attorney sets up LLCs for asset protection. My wife would like to set up a single member LLC for her private practice as a marriage and family therapist. Although she has malpractice insurance and is highly ethical, she is always concerned about the possibility of getting sued. In regards to the basics of setting up the entity, does it really matter if the attorney's expertise is RE for the purpose of setting up the entity? On the surface, it seems like if the attorney can set up an LLC for RE asset protection, it would be the same as setting up an LLC for a Non-RE business. I realize the taxing choice would be different but our CPA is advising on that. I am strictly talking about the basic task of setting up a single member LLC and explaining what we need to do to "stay legal" as an entity and not have it disregarded. Would the RE Attorney be appropriate enough? I assume most attorney's who set up LLCs don't specialize in LLCs for only one line of business.

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