A Limited Liability Partnership (LLP) allows partners to take a managerial role in the business and enjoy limited personal liability. California allows attorneys and accountants to operate their practices as a LLP. This formation is a General Partnership that elects to be treated as an LLP by registering with the Secretary of State. Many attorneys and accountants find the LLP operate as an LLP because it shields the partners from liability of other partners, they can operate more informally than a corporation, and retain full partnership tax treatment.

Estate Tax Faces Its Own Life-and-Death Struggle

"Parties are at odds on how to deal with a levy set to disappear entirely in 2010 before being resurrected at full pre-Bush level..."
www.WSJ.com

Commercial Real Estate’s $1 Trillion Time Bomb

"According to analysts at Deutsche Bank AG, as property value declines and scarce credit continue to drive commercial property developers and investors into default, total lifetime losses on banks' $1 trillion 'core' commercial-mortgage holdings..."
www.WSJ.com

Debate Over Estate Tax Likely to Wait Till 2010

"A split among Democrats and a busy fall agenda is likely to have lawmakers hold off this year on debating the future of the estate tax, even though it expires at the end of the year..."
www.TheHill.com