Legal Considerations for Farm Owners
Farming brings to mind kinship with nature and a simpler way of life. But the farming industry is highly regulated, and navigating the applicable laws and regulations can be far …
Can a Trust Own My Business After I Die?
In general, the answer to the title question is yes, your trust can own your business after you die. However, there are a number of considerations that may impact the …
What to Know Before Investing in a Small Business
With the country emerging from pandemic lockdowns and economic activity beginning to expand, small business owners are optimistic about the future. Supporting local businesses can help them grow and thrive …
Are Family Limited Partnerships Under Attack?
A popular estate planning tool that has long been used effectively may be facing new challenges under the current administration in Washington, DC. The family limited partnership (FLP) is an …
What Is a Nonsolicitation Agreement, and Should I Use One?
You have invested a lot of time and money in developing your employee, customer, and vendor relationships. You cannot stop your employees from walking out the door, but you may …
What Is an Equity Purchase Agreement and Why Do I Need One?
An equity purchase agreement, also known as a share purchase agreement or stock purchase agreement, is a contract that transfers shares of a company from a seller to a buyer. …
How to Handle Conflicts in Family-Owned Businesses
Conflicts are inevitable within businesses and families. Personal rivalries, differences of opinion, competition for resources, and questions of prestige can set individuals at odds and lead to warring factions with …
Considering Bankruptcy for Your Small Business? Here Is What You Need to Know
Starting a small business entails significant risk. You forego the security of a steady paycheck to create economic opportunities for yourself. Business failure rates have remained steady over the years, …
Considerations for Hiring Your Child as an Employee
Hiring your child to work in the family business can be a win-win situation for both you and your child. A child employee offers you tax advantages not available with …
How to Pay Yourself When You Own an LLC
One significant advantage of organizing your business as a limited liability company (LLC) is the flexibility it affords. The Internal Revenue Service (IRS) allows LLC owners to choose how their …