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Do You Have a Limited Liability Company?

| Dec 9, 2010 | Business Planning

Often Texas courts follow the lead of other states.  For some time, we knew that bankruptcy courts in some jurisdictions would not respect the charging order protection of single member LLCs.  In Florida, the Olmstead v. FTC  case extended such reasoning.  This is not the law yet in Texas, but it may be in the future.  Thus, we rarely recommend single member LLCs as asset protection vehicles. If you have a single member LLC, please contact our office so that we may assist you in analyzing your exposure.