A family limited partnership (“FLP”) is a type of limited partnership that is formed by an official filing with the Secretary of State. The FLP is a separate, legal entity, with its own tax id. But any income or loss flows through to the partners and is reported on their tax returns. The key provisions [...]
A limited liability company (“LLC”) is a business entity that many people choose to utilize because its owners are limited in their liability for the company’s debts and obligations. This is similar to shareholders in a corporation having a limited liability, but an LLC can at the same time be treated as a partnership when [...]
A living trust (“Trust”) is a type of private asset management tool that is created and becomes effective during the grantor’s lifetime. In this type of Trust, the ownership of your property and assets is transferred to the Trust, though you maintain control over the transferred property and assets. In this Trust, the Grantor(s) name [...]
In starting a company, the entity type can be one of the most important decisions a new business owner makes. Different entities have different qualities that can affect the business, including asset protection and limited liability qualities. Asset Protection Sole proprietors, those owners who do not operate a business under an entity, are personally liable [...]
Financing a business, joint venture, or a large purchase can be an incredibly stressful experience, especially if you’re not exactly sure what your financing options are. The sheer costs can be daunting for even the most seasoned entrepreneurs. Evaluating Your Options Although it can be a painful experience, the first step for any person contemplating [...]
What is a Security – the Basics Security is a small word with a very big meaning. This is an incredibly broad term that encompasses, among a host of other investment vehicles and instruments, stocks, treasury stock, notes, debentures, evidence of indebtedness, interests in oil and gas wells and mineral rights, limited liability company interests, [...]