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Limited Liability Companies are the relative newcomer to the field of corporate entities. The LLC first began in Wyoming and Florida in the 1970’s. The purpose was to create a corporate structure, which had the benefits of a corporation, without the downside of double taxation. Prior to the LLC this was accomplished by using a subchapter S election with a traditional C-corporation; however, S-Corps have significant restrictions and are therefore difficult to use, particularly in conjunction with other planning.

With the introduction of the LLC came a true hybrid with essentially all of the benefits of the Corporation with none of the S-Corp restrictions or the double tax of the C-Corp.

The Limited Liability Company’s primary role is to compartmentalize “risky” assets that should not be directly mixed with safe assets held by the AMLP. Real estate, rental properties, boats, and airplanes are all best held within an LLC to insulate owners and other valuable property from these risk-generating assets.

The LLC is normally owned 100% by the client’s Asset Management Limited Partnership™, making the LLC a disregarded tax entity that does not require its own tax return.

Learn about the concepts of a Trust, Irrevocability, Spendthrift Provisions and much more.

Pashmina Lalchandani

CEO & Co-Founder, Bar & Cocoa / Owner, Flow Simple
December 9, 2010, Douglass was a client of Pashmina’s

I’ve known Doug in many contexts, as a friend, as a client and as a business partner and he impresses me on all levels. He’s dependable, smart, generous and I wouldn’t hesitate recommending him and his law firm to anyone.
He’s the best and most ethical lawyers providing asset protection with rock solid strategies to give you peace of mind about your wealth. Straight forward, and straight talk. Doug is exactly the lawyer I want on my side. If I send someone to Doug, I know they’ll thank me for it!

Social & Solar Entrepreneur, Pan Afrikan Theorist, Translator/Interpreter,
Founder & Visionary Leader @ Afrikanpride.
March 12, 2011, Marlon E. D. J. worked with Douglass but at different companies

Doug is one of the most powerful thinker i have came across. During the short time that i have known Doug he has been a great source of inspiration. He has a simplistic yet effective and accurate way to analyze anything you bring to his attention, and then by asking you key questions he gets you to see the light at the end of the tunnel. Besides being extremely bright, he is a genuine and caring individual which is why I feel fortunate to know him. I can say without a doubt that he his the person you would want to talk to if you were in need of a person with his expertise.
Most of the lawyers out there will probably meet your needs, but if you are looking for someone to exceed your expectations and give you that wow factor, look no more he is the person for the job.

Patricia Salter

Associate Dentist at Smileology
December 1, 2010, Patricia was a client of Douglass’

I have been a client of Douglas Lodmell’s since 2001. My main concern was asset protection in this litigious society. I can sleep alot better at night knowing I have the instruments in place to protect the fruits of my labor, and that they will not end up in the hands of a slick trial attorney.

Contact Us Today to Schedule an Asset Protection Analysis.


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