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...
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...
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...
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...
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...