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...
by Howard C. Stross | Oct 26, 2022 | Asset Protection, Business Law, LLC, Real Estate, Small Business
To avoid probate with a trust-based estate plan, ownership of real estate must be transferred so it is an asset of the trust. In asset protection planning, ownership of real estate might be transferred to a legal entity such as a limited liability company (LLC)....
by Howard C. Stross | Apr 14, 2022 | Business Law, LLC, Small Business
Businesses are governed by laws and regulations that affect nearly every aspect of their operation. From formation, hiring, and firing, to drafting contracts, resolving disputes, and dissolving or selling the company, numerous legal matters arise during the lifetime...
by Howard C. Stross | Dec 6, 2021 | Business Law, LLC, Small Business, Tax
Case Study: Arthur formed a corporation called Pick-Ups, Inc. Arthur was the corporation’s sole director, officer, and shareholder. The federal government sued Arthur, his wife, and the corporation to collect federal taxes. The court found the corporation was...
by Howard C. Stross | May 25, 2021 | Business Law, LLC, Small Business
The owners of a limited liability company (LLC) are called members. At some point, an LLC member may find they want, or need, to withdraw from the LLC. That member, and the other members of the LLC, may wonder how to accomplish this. To properly withdraw from an LLC,...
by Howard C. Stross | Dec 29, 2020 | Business Law, LLC
Are you considering starting a business with a friend or family member? If operating as a limited liability company (LLC), a well-drafted LLC operating agreement will be crucial to memorialize your economic agreement, organizational structure, and key terms, and...
