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How will you construct your entity?

by Randy randy on February 28, 2010

There are many ways in which a person or business can choose to organize his/her/its affairs. A person can be known, and hold his/her assets as an individual. When collective ownership and activities are envisioned, individuals can go one step further and form a joint venture, partnership or association. Or they can elect to use a surrogate legal entitey such as a corporation or a trust which will represent their interests in operation of a business and/or to hold assets. Each of these choices bears a slightly different fruit in the form of tax advantages, liability protection, estate building and planning, and privacy.... And each of them has its own range of vulnerabilities and disadvantages.