Asset protection planning is taking proactive steps to protect your personal or business assets and income before there is a legitimate threat or claim against you or your business. This is not giving away or transferring your assets to other parties, that carries its...
When the owner or owners of a closely held small business decide its time to sell or are approached by a potential buyer, the first order of business should be determining the business’ value or the value of the selling owners’ interest. Innumerable factors are...
Each business, or at least its ownership, has a life cycle and particularly with multiple owners it is important to consider at the business’ inception how the business may end or an owner leave. While the law provides a mechanism to end a business or one’s ownership,...
Whether it’s a corporation, company, limited liability entity, limited partnership, partnership or business trust, business owners are encouraged to form and use some type of business entity to limit their personal liability exposure, creating a firewall to prevent...
Generally a business can be operated personally (sole proprietorship or partnership) or through an authorized legal entity (corporation, limited liability company, etc.). In the former, you and your partners’ assets are exposed to any business liability. In the...