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An Introduction to Governing Documents for Your Business
Governing documents consist of shareholders agreements and bylaws for corporations, operating agreements for limited liability companies (LLCs), limited partnership agreements for limited partnerships (LPs) and partnership agreements for partnerships. They are super...
Do Trusts or LLCs Provide You with Better Asset Protection?
Do Trusts or LLCs Provide Better Asset Protection? You may think of a trust as the only way to protect your assets from creditors after you’re gone. Today, we’ll be talking about another option for asset protection: the use of an LLC. Each has its advantages and...
An Introduction to Business Share Transfers
When you start a business with other people, each of you own a percentage of it – a share. In a two-person partnership, each of you might have a 50-50 share. Adding more people or entities of ownership, obviously, means a reduced shared for everyone. But what if one...
Why People Fail to Plan – and What to Do for Your Plan
We’ve written in the past about the frustratingly high percentage of people who do not have an estate plan. People who, if something happened to them today, would leave their assets – their legacy – completely at the mercy of the law, with no personal say in what...
Who Are the Relevant Parties to a Trust? And Other Important Trust Questions
If you’re thinking of setting up a trust and you’ve never done it before, you probably have a lot of questions. How do you do it? Who needs to be involved? How do they work? Are they worth it? In this post, we’re going to try to cover several of those questions to...
An Introduction to Business Planning and Business Plans
If you are a small-to-medium-sized business owner, you may view building a business plan as a deeply complex endeavor that will require exorbitant amounts of time. And because of this, you might decide not to bother. You might tell yourself that you already have the...
Preparing Your Business for the Future: An Exit Planning Overview
As every business owner knows, there’s an endless stream of challenges and conflicts that can and often do arise during the life of the business. Business planning is the art and science of helping businesses at all stages of their life cycles, from the formation of...
How Does Your Trademark Factor In to Your Estate Plan?
You may feel that you’re acing your estate planning, because you have created a plan for both your personal and business assets: real estate, stocks, different bank accounts, trustees, business co-owners… And that’s great. But I want to draw your attention to an...
Copyright in Estate Planning
Intellectual property generally relates to three bodies of law: copyright, trademark and patent. Each has it’s own universe of significance, rights, remedies, and the like. In this page, we’re going to be focusing on copyright, a legal tool every artist, writer, or...
Advantages and Disadvantages of Different Business Structures
There are a variety of business structures depending on your business’ goals and needs, such as: Sole proprietorship Limited liability company (LLC) Professional Association Corporation S-Corporation Partnership Limited Partnership Limited Liability Partnership...
