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30 May 2018, 4:47 pm
Brief Background Facts: The detailed facts of this opinion fill about half of the 46-pages of the court’s decision, but for purposes of this short blog post, the key factual basis for the claims includes the allegation that the sole manager of the LLC diverted a portion of the assets of the LLC to himself and his friends. [read post]
18 Jan 2018, 9:17 am
Incorporating Can Protect Your Personal Assets One way to plan ahead is to incorporate. [read post]
30 Aug 2019, 12:54 pm
Rights and responsibilities of owners and management You can set up the LLC’s operating agreement to specifically define management responsibilities for a group of individuals who own real estate together so that everyone is on the same page as to what their obligations are from day one – this will hopefully serve to avoid conflicts down the road. [read post]
9 Sep 2012, 7:40 pm
Last month, Pacific Wealth Management, LLC, filed suit against Pacific Wealth Management, Inc., alleging trademark infringement. [read post]
19 Mar 2010, 7:07 am
Today the Financial Industry Regulatory Authority (FINRA) announced that it has expelled Provident Asset Management, LLC, the affiliate broker-dealer of Provident Shale Royalties that marketed the fraudulent Ponzi scheme private placement investments. [read post]
25 Mar 2020, 12:33 pm
[Note: The Revised LLC Act defines “operating agreement” as any agreement among the owners of an LLC regarding its management, whether written or oral. [read post]
26 Oct 2020, 10:11 am
Among many challenges, one is what to do when a debtor corporation or LLC ceases to exist. [read post]
31 Oct 2013, 10:22 am
Members may be passive investors, the LLC may be managed by members or by one or several managers, and profits and losses may be allocated disproportionately to the members’ percentage interests or the value of their contributions. [read post]
20 Mar 2023, 8:07 am
The post Heirs with Money Management Issues appeared first on Estate Planning and Elder Law LLC. [read post]
4 Feb 2024, 3:17 pm
In that case the non-managing members of an LLC formed to operate a restaurant filed suit against the managing member. [read post]
16 Oct 2014, 8:25 am
As one group of LLC members recently discovered, if the LLC's distributions to them leaves the LLC penniless and essentially dissolved, the creditor may collect from the members. [read post]
2 Oct 2007, 10:41 am
Separate assets, such as separate parcels of real estate, can be isolated behind separate legal and tax firewalls within one series LLC. [read post]
19 Nov 2019, 10:15 am
If landlords are not property protected, their personal assets can be put in jeopardy. [read post]
30 Apr 2011, 5:00 am
Mom and Dad can limit how much interest they actually own in the LLC (e.g., 1% each) but can retain control over the management of the LLC to ensure the assets are protected and managed properly. [read post]
8 Apr 2019, 3:48 am
When the target of dissolution is structured as a holding company for one or more operating or asset-based companies with asymmetric management, the issues can get hairier. [read post]
7 Feb 2023, 12:09 pm
This helps better protect the personal assets of the Members or Managers. [read post]
29 Nov 2011, 11:31 am
One reason for piercing the corporate veil is the failure to follow corporate formalities. [read post]
17 May 2024, 12:29 pm
The cost of an LLC holding company varies depending on the number of subsidiary companies it manages. [read post]
29 Jul 2013, 10:23 am
In the LLC realm, as of 2009 Texas has approved the use of the Series LLC, which I do like for real estate or other asset based businesses as it provides the ability to separate the liability on a property by property or asset by asset basis. [read post]
12 Mar 2024, 11:53 am
One of the primary concerns many face during this challenging time is the protection of their assets. [read post]
