A Quick-Reference Legal Guide to Corporate Asset Purchases

As a business owner, it's possible you'll one day face claims that could reach beyond your company and threaten your personal assets. You can protect what you have from lawsuits brought against a company you own or hold a membership interest in, and the right strategies for you will depend on the unique situation of your business. A Queens business attorney is the best one to show you how to protect your assets from lawsuits. more How to Protect Assets from Lawsuits Form an LLC Under New York law, a member is not liable for the debts or obligations of the LLC solely because of their membership. For this to work, you'll need to file Articles of Organization with the Department of State, adopt a written operating agreement, and keep the company's finances completely separate from your own. Always maintain separate bank accounts, distinct contracts, and clean records to reduce any chance that a court will pierce the entity and reach your personal holdings. Get Good Insurance Even with an LLC, you'll want and need liability insurance. A solid commercial general liability policy and any needed professional coverage will be able to absorb many claims before they even threaten the business, let alone your personal property. Review the limits each year and confirm that it meets your needs. Know and Transfer Your Assets Make sure you know exactly what you own and what's potentially vulnerable. Then you'll know best how to protect everything. Certain personal assets are already protected no matter what kind of business you have, including equity in your primary residence up to a certain amount, life insurance proceeds and annuity contracts (when the policy is properly structured), and retirement accounts under ERISA or qualifying individual retirement arrangements. You can also transfer assets into an irrevocable trust for the benefit of your family. Once the transfer is complete and you have no beneficial interest in those assets any longer, they generally sit beyond the reach of your future creditors. New York does not recognize self-settled trusts that name you, the creator, as a beneficiary, so the trust must name someone else as beneficiary. Be aware that you need to move assets into the trust before a claim is made against your company. If you try to make a transfer once a claim's been made, it can be nullified as fraudulent. Make Sure Your Documents Are In Place Business succession tools like buy-sell agreements and carefully drafted operating agreements will keep any ownership transitions orderly and reduce the chance that a dispute or unexpected death could force a fire sale of company assets. Be sure that you're reviewing your overall risk profile at least once a year with your attorney. New contracts, a change or addition of location, or a change in the type of work you perform can all create fresh exposure and require that you adjust your entity's structure, insurance limits, or ownership titles before any problem appears. Talk to a Queens Business Attorney Contact DeCandido & Azachi today to set up a free consultation on your situation. We serve the entire Queens area from our Forest Hills, NY office.

Bringing Big-City Experience to Plano’s Thriving Business Community At DeCandido & Azachi, PLLC, we know what it takes to build and protect a successful business. Having spent decades helping business owners in New York City, one of the most complex and fast-paced markets in the world, we’ve honed our skills in corporate law, asset protection, and business strategy. Now, we bring that same high-level legal experience to Plano, TX, and Collin County, ensuring local business owners like you have the guidance they need to start, grow, and protect their companies. If you're a business owner or future entrepreneur in Plano, you’re in the right place. With major corporations relocating to the area and a growing number of small and mid-sized businesses thriving in the city's business-friendly environment, now is the time to set yourself up for success. Contine reading to learn more. more Why is Plano, TX a Great Place for Business es? Plano is no longer just a Dallas suburb—it’s a booming economic powerhouse with a diverse range of industries. From tech startups to major Fortune 500 companies, businesses are flocking to the area thanks to: A business-friendly environment – Texas has no state income tax, and Plano actively encourages new investments with economic incentives. Corporate headquarters and expansions – Companies like Toyota, JPMorgan Chase, and Liberty Mutual have made Plano their home. A wealthy and highly educated workforce – With a skilled talent pool, businesses can hire top professionals to drive growth. A resilient economy – Plano continues to thrive with strong economic development efforts, making it a prime location for entrepreneurs and investors. Whether you're starting a new business or scaling an existing one, having the right legal foundation is crucial —and that’s where we come in. How Our Experience Helps Plano Business Owners Our law firm was founded in Queens, NY by William V. DeCandido, New York is one of the most complex legal and financial landscapes in the country. We’ve helped business owners navigate strict regulations, high-stakes contracts, and competitive markets—skills that translate perfectly to Plano’s fast-growing business scene. Here’s how our business lawyers in Plano, TX can help you: 1. Business Formation & Corporate Structuring Choosing the right business entity is one of the most important decisions for any entrepreneur. Whether you're setting up an LLC, corporation, or partnership, we ensure your business is structured to protect your assets, minimize taxes, and maximize growth opportunities. Why it matters in Plano: With major businesses relocating here, the city is becoming a hub for entrepreneurs. We help new business owners set up the right legal framework from day one. 2. Contract Drafting & Negotiation Contracts are the backbone of any business. Whether you’re hiring employees, forming vendor agreements, or closing a major deal, your contracts should be ironclad and tailored to your needs. Why it matters in Plano: With corporate headquarters and business expansions booming, strong contracts protect you from disputes. We help local startups and small businesses draft contracts that prevent future legal headaches. 3. Business Asset Protection Growing your business also means protecting it from risk. Whether it's intellectual property, business assets, or succession planning, we help you put legal safeguards in place. Why it matters in Plano: The city’s booming real estate and corporate investments mean more opportunities—but also more risks. Our experience in business succession planning and asset protection helps ensure your company’s long-term success. 4. Business Litigation & Dispute Resolution Disputes can be costly and damaging to your reputation. If you’re facing a contract dispute, partnership disagreement, or business lawsuit, we use our NYC-honed litigation experience to protect your interests and resolve issues efficiently. Why it matters in Plano: As more businesses open in Plano, competition is increasing, leading to more potential disputes. We help business owners avoid costly lawsuits and resolve conflicts effectively. Ready to Build a Stronger Business in Plano? Let’s Talk. With Plano’s strong economy, business-friendly policies, and influx of new companies, there has never been a better time to start or grow your business. At DeCandido & Azachi, PLLC, we take our decades of experience from New York’s fast-paced business world and apply it to help Plano entrepreneurs and business owners thrive with confidence. Schedule a free consultation today to discuss how we can support your business success in Collin County, TX. Call us at 972-882-6600 and plan your visit to our Plano office at 5465 Legacy Drive Suite 650 to get started!

Probate here in Nassau County can be expensive and time-consuming, so it's natural to ask how to avoid probate for your assets. New York law does offer several reliable paths forward. more How to Avoid Probate in Nassau County: 5 Ways to Go About It There are several things you can do to get your assets passed directly instead of moving through the full Surrogate's Court process. Each method has its own requirements and trade-offs, though, so the right combination depends on the types of property involved and the goals you have for control and privacy. Always talk to a lawyer to get specific advice. Revocable Living Trusts A revocable living trust is a legal arrangement you create while alive. You transfer ownership of assets into the trust and usually name yourself as trustee. This gives you complete control to use the property, sell it, or change the trust terms at any time; but when you pass away, the successor trustee you named steps in and distributes the trust assets according to your instructions. Because the trust is the owner of the assets, not you or your estate, those assets do not enter the probate process. Pour-Over Will Many people sign a pour-over will when they set up a trust. This just directs that any assets still in your individual name at your death are to be bequeathed to the trust. This keeps most property out of court while providing a safety net for anything you might have overlooked while setting up the trust. Joint Ownership with Rights of Survivorship This is a popular option for married couples. Setting up your ownership this way allows the surviving owner to receive the full title automatically upon the other owner's death. This structure works for some bank accounts, brokerage accounts, vehicles, and real estate, too. You just need to make sure these are all set up the right way. Beneficiary Designations on Financial Assets Many accounts and policies let you name a beneficiary directly with the financial institution or insurance company managing the account. Life insurance proceeds, retirement plans such as IRAs and 401(k)s, bank accounts with payable-on-death forms, and brokerage accounts with transfer-on-death registrations all pass straight to the named person or persons upon proof of death. These transfers happen outside probate. The key here, however, is remembering to keep the designations current as life changes. Transfer on Death Deeds for Real Property New York law lets property owners record a transfer-on-death deed for real estate. You keep full ownership and control during your lifetime and can revoke or change the deed by recording a new one or by selling the property, but, upon your death, the named beneficiaries receive title without any need to go through probate for that specific parcel of land or house. Talk to Us to Learn All the Options in Nassau County These are just five general options. There are more, and what's best for your estate depends on the specifics. Contact DeCandido & Azachi in Forest Hills, NY today to get strategic advice on your estate planning. We also serve clients in Plano, TX.