Limited Liability Partnership Lawyer In California
Limited liability partnerships are very unique types of entities open to lawyers, accountants and architects. In California, these professionals often find partnerships to be unsatisfactory because of high degree of personal liability, but are unable to form LLCs or true corporations because of legal restrictions. One viable alternative is to form a limited liability partnership. In a California limited liability partnership, each partner’s personal liability is limited to the torts, typically professional malpractice, which they themselves commit. This is a significant advantage over a partnership because the partner is not personally liable for the business debts and liabilities of the limited liability partnership or the torts committed by the other partners. A limited liability partnership has a separate legal existence and must be formed through a filing with a secretary of state, must carry significant insurance, and must comply with certain reporting requirements.
The limited liability partnership is more complex than a partnership and is subject to greater formation, reporting, and insurance requirements, but many lawyers, accountants and architect find that these disadvantages are outweighed by significant limited liability protections they offer to the partners. Having an experienced California LLP attorney on your side is essential.
San Francisco LLP Lawyers
Based in San Francisco, The Zurada Law Group we are experienced in the creation and on going maintenance of a Limited Liability Partnership in California.
For a FREE consultation with a California LLP lawyer call us at 415-637-8483 or just fill out our contact form on the right hand side of your screen.