by Howard C. Stross | Jan 11, 2023 | Business Law, LLC, Small Business
Estate planning and business law attorneys often advise their clients to form a limited liability company (LLC). An LLC provides flexibility and another level of asset preservation for the LLC’s owners/members. There are usually at least six steps to properly...
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 | Jan 27, 2022 | Business Law, Buying and Selling a Business, Small Business, Tax
There are activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on the weekends, or collecting classic records. There is no monetary gain—and no expectation...
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...
