California | Business Law
Legal Question
C-corp and LP setup
Not sure if I'm posting in the correct category, but seeking assistance in setting up my LP & C-corp properly. These companies will be in placed to hold real estate investments. Was told it's best to have 2 entities for the most protection. Hold assets in the LP and the C-corp will manage/operate business.
I understand the basics, however, want to confirm I have the partners setup correctly under these two entities. Then putting all shares into my FLP for further protection.
My LP - Partners:
1. GP 99% = my C-corp company
2. LP 1% = my name here??? not sure
My C-corp
1. Shareholder - my name here?
Since my C-corp will act as the managing company for my LP, is it legal that my name be both a shareholder in my C-corp and a 1% limited partner within my LP?? Seems tricky.
Not clear if I'm putting the correct names under each entity.
Thank you in advance.
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