I love LLCs because I don’t have to do anything! While the LLC organizational structure has gained great popularity, and is often the entity of choice for new business owners, the wonderful flexibility of this structure also carries many potential pitfalls. Below is a short list of some of the Pros and Cons of the […]
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Estate Planning Considerations – Selecting a Successor Trustee
Do you have a trust? Are you thinking about creating one? Why? Most people will tell you they created or want to create a trust to protect their assets and to make sure they are taking care of their children/grandchildren. So, it makes sense that (1) who takes care of the children and (2) who takes […]
Tax Benefits of a LLC
THЕ TАX BЕNЕFITЅ ОF A LIMITED LIАBILITУ COMPANY A limitеd liаbilitу соmраnу, or LLC, is оnе оf thе most рорulаr buѕinеѕѕ entities. An LLC is uniquе in thаt it’ѕ a pass-through entity. Thе Internal Rеvеnuе Sеrviсе (IRS) does nоt consider an LLC a legal separate еntitу in terms оf tаxаtiоn, ѕо all buѕinеѕѕ income, losses, […]
The Ultimate Business Pre-Nup
We’ve all heard the stats… 50% of marriages end in divorce. And you ask, what does this have to do with business law Scott? The answer is simple, despite the myth that 95% of companies fail (I’ve heard, 80%, 90%, etc.), reality suggests that nearly 50% of companies make it to the fifth year. ( https://www.sba.gov/sites/default/files/Business-Survival.pdf). […]
Guardian Selection, it’s All About Them
The selection of a guardian for your child(ren) is, and rightfully should be, one of the hardest decisions a parent may ever have to make during their estate planning process. As such, I thought it was worthwhile to follow up last month’s article “Pick Me!” with a more detailed analysis of the discussions I have […]