by Howard C. Stross | Jun 9, 2025 | Business Law, Business Succession Planning, LLC, Small Business
This article is part of our ongoing series on overlooked but essential elements of a limited liability company (LLC) operating agreement. When forming an LLC, many business owners fall into one of two categories: They do not create an operating agreement at all, or... 
by Howard C. Stross | Feb 12, 2025 | Asset Protection, Business Law, Business Succession Planning, LLC, Small Business
When setting up an LLC, many business owners overlook key parts of their operating agreement. The LLC Operating Agreement is a document that serves as the foundation of your LLC’s internal operations, yet common gaps can leave you vulnerable to legal disputes and... 
by Howard C. Stross | Jan 29, 2025 | Business Law, Business Succession Planning, LLC, Small Business
This is the first in a series of business law articles that will discuss overlooked topics that many LLC operating agreements do not include or, if included, do not clearly explain the topic. These omissions can lead to disputes among members, confusion about what... 
by Howard C. Stross | Dec 3, 2024 | Asset Protection, Business Law, Business Succession Planning, Buying and Selling a Business, Small Business
A Shareholder Agreement is important if you own shares of a corporation (also called “stock”) along with one or more other owners of shares (called “shareholders”). If the shares of stock you own are shares of a publicly-traded company, you can sell those shares as... 
by Howard C. Stross | Jan 30, 2023 | Business Law, Business Succession Planning, Estate Planning, LLC, Small Business
The limited liability company (LLC) is a popular business structure that offers liability protection and avoidance of double taxation. Trusts are popular asset transfer vehicles that allow you to avoid probate and some trusts act as asset protective devices. By... 
by Howard C. Stross | Nov 30, 2022 | Business Law, Business Succession Planning, LLC, Small Business
If the sole member of a single member limited liability company (SMLLC) established under Florida law dies, the SMLLC must dissolve and wind up its affairs unless the operating agreement provides for a different result. This is a huge reason why even a SMLLC should...
