Archive for llc
Oct
31
Family LLCs: Sharing the Wealth
Posted by: | CommentsFor years promoters have touted the use of Family Limited Partnerships (FLP) as a tool for owning and protecting assets and providing a mechanism for passing them on to the next generation. The FLP has been used so frequently that it could lead one to the impression that the FLP is a separate kind of entity. It isn’t. It is simply a Limited Partnership used for family purposes. Similarly, the LLC is becoming used for family purposes, which has coined the usage of the Family LLC.
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Anna Nicole Smith: A legacy of not planning for the future There is an Associated Press article on Law.com about the mess that Anna Nicole Smith left behind for her estate. In addition to the paternity suits, DNA tests and jurisdictional wars between the Bahamas and the U.S., there is also the highly personal tragedy of an infant daughter who...... -
Recommended Reading on the Health Care Crisis The current health care debate that is being engaged in across the country is so important because it impacts every person and every business in important ways. While I am generally conservative in my political leanings (with libertarian smatterings - and even an occasional liberal thought), I won't be using......
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Oct
14
Husband & Wife Ownership of LLCs in Community Property States
Posted by: | CommentsI am frequently asked about the impact of a husband and wife owning the membership interest in an LLC in a community property state. It is and interesting issue that is unresolved in many respects.
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The Problem with Series LLCs The new, Series LLC abandons the comforts of asset protection precedent, and introduces a new, completely untried and untested concept into which uninformed promoters and unwary business owners are stumbling. The Series LLC is an exciting new development in business entity law that is currently getting a lot of attention...... - It's Only a 5% Discount! Here is a worthwhile piece of advice from Sierra Management Solutions on the potentially devastating impact of discounting on your company's bottom line: Problem: The CFO was worried. For the past six months the company's margins had been dropping and now they were at the point where something had to......
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