Reverse veil piercing also allows an exception to the legal separateness between corporate or LLC entities and their owners, but in the opposite direction. When the corporate veil is pierced—in reverse—business assets can be used to pay for obligations incurred…
You might think that a board of directors is something that only big companies have, but all S corporations and C corporations—even small businesses—are legally required to have boards of directors. Specific rules for the board of directors are established…
Studies show that one-third of Americans who receive an inheritance have negative savings within two years of receiving the money. Even among Americans who inherit more than $100,000, at least 20% spend, donate, or lose all of it within the…
While it is an honor to be named as an executor of a will or estate, it can also be a sobering and daunting responsibility. Being an executor (sometimes called a personal representative) requires a high level of organization, foresight,…
Your children are your pride and joy. It is no surprise that at some point or another, every parent likely becomes concerned about who will care for a minor child or children if they die or are incapacitated. To provide…
The pain of losing a loved one multiplies when arguments arise about who inherits what, among conflict-prone families. This can be especially true for those who had good relationships prior to the deceased family member’s death. Whether you already know…
Most business owners will tell you that the time they put into running their company makes it almost impossible to distinguish their professional life and their home life. For married entrepreneurs, this can create unique challenges. Not only do the…
It has been a tough couple of years for many small businesses, but, as the adage goes, what doesn’t kill you makes you stronger. Small businesses that survived the challenges of 2020 and 2021—the worst pandemic in US history, a…
As you start preparing your year-end and holiday season To-Do checklist, do not forget to add making sure that your own personal affairs are in order. Here are eight things to add to your checklist as you review your estate…
Receiving an inheritance is a huge blessing but can become a curse if not handled properly. Too often we hear stories of an heir squandering their gift either because they do not know how to manage it well or they…