Category: Succession

Why Well Drafted Partnership Documents Matter: Court Holds that Funds Paid to LLC By Members After Initial Capital Contributions are Loans by Default

Why Well Drafted Partnership Documents Matter:  Court Holds that Funds Paid to LLC By Members After Initial Capital Contributions are Loans by Default

The following illustrates why well drafted operating, partnership, or shareholder agreements among business partners (the type of agreement is related to the type of entity) are essential. ¬†And it is substantially more cost effective to pay a professional to properly draft these documents up front as opposed to litigating the matter later. As the New […]

Read More

The Special Challenges of Retiring From a Business You Own

The Special Challenges of Retiring From a Business You Own

RETIRING is challenging for almost everyone. But if you’re a small-business owner, preparing to hand your company to your children can create an even bigger knot of anxiety–worries about financial security, the legacy of your life’s work and the prospects for your offspring. The process can touch everything from spreadsheet-driven company valuations to awkward talks […]

Read More