Year: 2016

Single Member LLC–what, why and when?

December 30, 2016

What is a single member LLC and why would you want one? We have previously written a fair amount on LLCs generally, including what they are and why they can be useful legal entities. This post will focus on single member limited liability companies. As the name indicates, a single member LLC has one owner–and […]

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lenders and LLCs–rental property stuff

December 19, 2016

It is usually a good idea to own rental property through an LLC. As the name suggests, an LLC is designed to limit liability. Think of a limited liability company as a legal liability firewall vehicle. In other words, if some sort of legal claim arose from the operating of your rental property (say a […]

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The value of knowledge and experience in all areas of life

September 8, 2016

Do you and I appreciate the importance of experience and expertise? In this internet age, it is quite easy for us to believe that Google can make us an expert on just about anything. While I am as much a fan of Google and other internet resources as the next person, I see quite often the […]

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Buy-Sell Agreements: Mistakes to Avoid (Part 2)

August 27, 2016

A buy-sell agreement can provide essential protections for business owners. Don’t take my word for it, listen to the contributing writers at Forbes.com. Though this article is not new, the applicability of the February 2011 article by Robert W. Wood, titled “In Business, Get a Buy-Sell Agreement!” has not changed. You can click here to […]

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Business Buy-Sell Agreements: Mistakes to Avoid (Part 1)

August 22, 2016

If you are the owner of a family business or other closely held business, not having a buy-sell agreement may be a big mistake. Let’s get this out-of-the-way: I am a business law attorney who gets paid to work on things like buy-sell agreements. Therefore, it is no surprise that I am talking about why you […]

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The similarities between knives and powers of attorney

August 11, 2016

Are knifes dangerous or useful instruments? That depends on how they used and for what purpose (and by whom). Most of us would not see a typical kitchen knife and immediately have feelings of panic and fear.  We understand that kitchen work often requires the use of knives.  And it is difficult in most instances to prepare […]

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phantom equity–what and why?

July 6, 2016

Phantom equity can provide the best of both worlds for owner and employee. There is nothing pejorative in the use of the terms “phantom equity” or “synthetic equity.” Rather, these terms just reference the fact that phantom equity has some attributes akin to actual equity, while at the same time it is in many respects […]

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who can access your e-mail? (status of laws relating to digital assets)

July 6, 2016

At the moment, you likely don’t want anyone (other than perhaps your significant other) to have access your e-mail, social media, online bank account, i-tunes and/or any of a number of other online accounts. If something were to happen to your parent, your spouse, your child or other family member, you might need to access that […]

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rules to govern the LLC–why a customized operating agreement matters

June 23, 2016

Each business partner should have a clear understanding of the rules which govern the business relationship. For an LLC, such rules are normally contained in an operating agreement. This documents should be written to address the unique needs of your business arrangement. Imagine you are visiting a foreign land. You don’t speak the language and you have no […]

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An LLC as a legal liability firewall (Part 2)

June 9, 2016

It is important to start any venture the right way and the formation of a LLC is no exception. While it is sometimes possible to correct mistakes later, it is not always possible to undo all damages caused or save the money that was spent in cleaning up messes created by improper actions. This is part of a multi-part discussion […]

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