How to Use Limited Liability Companies & Limited Partnerships [Paperback]

Garrett Sutton (Author), Cindie Geddes (Editor)

Book Description

Publication Date: October 1, 2009

Designed for entrepreneurs and individuals interested in starting their own business, this book provides an indepth study of how the special characteristics of limited partnerships and limited liability companies may be used to your advantage and to assist you in protecting assets, managing wealth and strategic estate planning to minimize taxes. It features strategic uses of limited liability companies and limited partnerships to hold real estate and other assets, how to easily manage and operate a limited liability company or limited partnership, how to creatively plan for your future and your family's future, and how to follow the rules to keep your assets protected.

Editorial Reviews

Review

I highly recommend this book. Every asset I own has its own protection and each investment is individually protected. If you are going to hold assets you need to implement the strategies clearly discussed in this excellent book. --Ken McElroy

Garrett Sutton has written an excellent overview of asset protection strategies allowing you to protect your life's work. I recommend that all of my clients read this book. --Gary Gorman

About the Author

Garrett Sutton, Esq., author of Own Your Own Corporation, and How to Buy and Sell a Business in the Rich Dad's Advisor series, is an attorney in Reno, Nevada.

Garrett has over thirty years experience in assisting individuals and businesses to determine their appropriate corporate structure, limit their liability, protect their assets and advance their financial and personal goals.

Garrett and his law firm, Sutton Law Center, have offices in Reno, Nevada, Jackson Hole, Wyoming and Rocklin, California. The firm represents hundreds of corporations, limited liability companies, limited partnerships and individuals in their business-related law matters, including incorporations, contracts, trademarks and ongoing business-related legal advice.

Garrett attended Colorado College and the University of California at Berkeley, where he received a B.S. in Business Administration in 1975. He graduated with a J.D. in 1978 from Hastings College of Law, the University of California's law school in San Francisco.

Garrett is a member of the State Bar of Nevada, the State Bar of California and the American Bar Association. He has been featured in The Wall StreeJournal,The New York Times, and other publications. Garrett enjoys speaking with entrepreneurs on the advantages of forming business entities and is a frequent lecturer in the Rich Dad's Advisors series.

Product Details

• Paperback: 246 pages
• Publisher: Success DNA, Inc.; 3rd edition (October 1, 2009)
• Language: English
• ISBN-10: 0971354901
• ISBN-13: 978-0971354906
• Product Dimensions: 8.9 x 6 x 0.6 inches
• Shipping Weight: 12.8 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (11 customer reviews)
• Amazon Best Sellers Rank: #46,593 in Books (See Top 100 in Books)

More About the Author

Garrett Sutton is an Attorney with over 20 years experience in assisting individuals and businesses to determine their corporate structure, limit their liability, protect their assets and achieve their personal and professional goals

Customer Reviews

Most Helpful Customer Reviews

35 of 38 people found the following review helpful:

5.0 out of 5 stars Excellent Book!, August 25, 2006

By 

Reader in Palo Alto (Palo Alto, CA, USA) - See all my reviews

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This review is from: How to Use Limited Liability Companies & Limited Partnerships (Paperback)

Using this book---and perhaps, a Nolo book or two---you can set up your own wealth protection plan, and assure that the lion's share of your assets will actually past to your intended beneficiaries---not to the government. Sutton writes at the perfect level for the intelligent layperson---not "for dummies", but also, not in unintelligible "legalese".

Another nice touch: although he does mention the various services his firm provides, the usefulness of this book is not at all dependent on that. (Although, after reading this book, I think you will conclude that Sutton is a very knowledgable, and reasonable person, and that using his services may not be a bad idea at all.)

In short, this book actually delivers what so many others only promise.

20 of 21 people found the following review helpful:

5.0 out of 5 stars The critical information missing in all the other LLC/LLP books, December 2, 2008

By 

J. S. Harris (Provo, UT) - See all my reviews
(REAL NAME)   

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This review is from: How to Use Limited Liability Companies & Limited Partnerships (Paperback)

I've read more than a dozen LLC/LLP/Corp books and this is BY FAR the BEST book (in its class) on how and why to use these business structures. Most other books give poor advice and consist of second rate templates and forms. They also devote as much as half of the pages to printed forms and state by state details that would be best left to the CD and to visiting the state web site - I guess it makes the book look bigger.

The author explains why you want to use the various entities, their advantages and disadvantages for both limited liability and tax treatment. He also includes Family Limited Partnerships for estate planning. This is a must read before you select the entity of choice and before you visit your attorney/CPA, etc. (No book is a substitute for a great attorney, but this one will help you minimize the bill.)

He has some forms, which are actually fairly good. The two drawbacks are only a few forms and there is no CD, so you'd have to type them. However, you can pick about any of the many LLC books with a CD and use them as a starting point. (Nolo books aren't too bad) You'll probably end up re-writing a lot of what they provide, but this book gives you a good start on how to improve them.

To form an LLC, I would read this book, then visit the web site for your state to find the detailed information on how to start one. States generally keep their sites up to date and have better information than the books anyway. (For example, forming an LLC in NY requires publishing and ad in two newspapers, something left out of almost all the books.) As a personal note, I always check the state laws and provide ONLY the information required by law and a clause for dispute resolution when forming an entity. (Privacy protection) This is usually far less information than many books and attorneys suggest. (except for the better ones, of course) :)

87 of 117 people found the following review helpful:

5.0 out of 5 stars This Book Provided A Fort Of Protection!, January 21, 2002

By A Customer

This review is from: How to Use Limited Liability Companies & Limited Partnerships (Paperback)

There's no doubt that this book is going to help my company become very powerful with lots of protection. The kind of protection that would cost thousands from legal council.
Wealth can take years to achieve but minutes to lose. Thanks
to the author for sharing such incredible valuable information
that will maximize corporate profits while limiting loses. I truly feel that I now have a true fort around my business.

This book should be a required reading for any BUSINESS OWNER
especially if they want MAXIMUM ASSET PROTECTION-THUMBS UP!!

DeWayne Johnson-MBA-Palm Springs,CA.