The Risks of Tenant-in-Common Investments
Historically, tenant in common (TIC) projects were owned by a relatively small group of investors who knew each other, such as long-time friends, business partners or family members. Strategies to maximize tax savings and preserve equity typically guided investors to this type of structure, rather than creating a limited liability...
The Risks of Tenant-in-Common Investments Continue reading…Financing and Growing Your Small Business Through Crowdfunding
What is crowdfunding? Part social networking and part capital accumulation, crowdfunding is simply the collective cooperation, attention and trust by people who network and pool their financial resources together to support efforts initiated by others. Inspired by crowdsourcing, this innovative approach to raising capital has long been used to solicit donations or support political causes....
Financing and Growing Your Small Business Through Crowdfunding Continue reading…Overview: Buy-Sell Agreements and Your Small Business
If you co-own a business, you need a buy-sell agreement. Also called a buyout agreement, this document is essentially the business world’s equivalent of a prenup. An effective buy-sell agreement helps prevent conflict between the company’s owners, while also preserving the company’s closely held status. Any business with more than one owner should address...
Overview: Buy-Sell Agreements and Your Small Business Continue reading…Planning Pitfall: Probate vs. Non-Probate Property
Transfer of property at death can be rather complex. Many are under the impression that instructions provided in a valid will are sufficient to transfer their assets to the individuals named in the will. However, there are a myriad of rules that affect how different types of assets transfer to heirs and beneficiaries, often...
Planning Pitfall: Probate vs. Non-Probate Property Continue reading…Which Business Structure is Right for You?
Which entity is best for your business depends on many factors, and the decision can have a significant impact on both profitability and asset protection afforded to its owners. Below is an overview of the most common business structures. Sole Proprietorship
The sole proprietorship is the simplest and least regulated of all business structures....
Which Business Structure is Right for You? Continue reading…The sole proprietorship is the simplest and least regulated of all business structures....
How Par Value Affects Start-Up Businesses
Many entrepreneurs are unclear about the “par value” of a stock, and what par value they should establish for their new corporation. Generally, par value (also known as nominal or face value) is the minimum price per share that shares can be issued for, in order to be fully paid. In the old days,...
How Par Value Affects Start-Up Businesses Continue reading…6 Events Which May Require a Change in Your Estate Plan
The purpose of writing a Last Will and Testament is to make sure that you – and not an anonymous probate court judge – have control over the distribution of your property after your death. If one or more family members disputes the instructions in your will, however, then it is possible that a...
6 Events Which May Require a Change in Your Estate Plan Continue reading…Should I Incorporate My Business?
The primary advantages of operating as a corporation are liability protection and potential tax savings. Like any important decision, choosing whether to incorporate involves weighing the pros and cons of the various business structures and should only be done after careful research. Once incorporated, the business becomes a separate legal entity, and assets of the...
Should I Incorporate My Business? Continue reading…Negotiating a Commercial Lease? Be Sure to Address These Issues
When it comes time for your business to move into a new commercial space, make sure you consider the terms of your lease agreement from both business and legal perspectives. While there are some common terms and clauses in many commercial leases, many landlords and property managers incorporate complicated and sometimes unusual terms and...
Negotiating a Commercial Lease? Be Sure to Address These Issues Continue reading…Umbrella Insurance: What It Is and Why You Need It
Lawsuits are everywhere. What happens when you are found to be at fault in an accident, and a significant judgment is entered against you? A child dives head-first into the shallow end of your swimming pool, becomes paralyzed, and needs in-home medical care for the rest of his or her lifetime. Or, you accidentally...
Umbrella Insurance: What It Is and Why You Need It Continue reading…Living Trusts & Probate Avoidance
You want your money and property to go to your loved ones when you die, not to the courts, lawyers or the government. Unfortunately, unless you’ve taken proper estate planning, procedures, your heirs could lose a sizable portion of their inheritance to probate court fees and expenses. A properly-crafted and “funded” living trust is...
Living Trusts & Probate Avoidance Continue reading…Are You Bound by the Terms of a Real Property Letter of Intent?
Complex commercial real estate transactions typically involve a back-and-forth negotiation of numerous terms of the agreement, a process which does not occur overnight. Accordingly, parties to a real estate purchase or lease transaction generally first execute a letter of intent (LOI), which documents the parties’ intent to proceed with the negotiation of a full...
Are You Bound by the Terms of a Real Property Letter of Intent? Continue reading…