When counsel to emerging start-up companies, Josh often brings critical expertise in the many types of capital formation activities, including entity and structure choices, fundraising processes, and securities compliance.
So, you’ve worked hard to build your business, protected your personal assets within the corporate veil of an Alabama LLC, and executed the “big three” estate planning documents (Will, Durable Power of Attorney, and Advanced Healthcare Directive) to plan for your death. That’s great, those are some really good steps toward securing your legacy.
But what happens to that LLC when you die? A 2014 case involving an Alabama LLC, the case of L.B. Whitfield, III Family LLC v. Virginia Ann Whitfield, et al., is instructive, but may provide some unsettling news.
If you’re considering buying your own franchise, you probably have tons of questions running around in your mind; questions that can make the difference in success, or failure, of reaching your business goals.
As we head into 2017, just a reminder of the IRS limits announced for ESOPs and pension plans this year.
Many investors, eager to get started and get their company moving, will agree to terms that are not good business in the long run. It is understandable, and I have a client and friend that is fond of saying "we hope that is a problem" because if it is then the deal has probably been successful. Unfortunately, because of the inequity some deals will get sideways almost immediately and never reach their potential (or even launch).
For some founders the answers are simple, but for most it is a sticky issue that creates a lot of stress and runs the risk of ruining both friendships and the business.