Last Will and Testament – Advantages
POUR OVER WILL A Last Will and Testament (“Will“) is one of the basic legal emergency documents needed by everyone eighteen years of age or over. It is an essential part of any estate plan. Having a Will is part of being an adult. It is often the source of great intrigue and conflict of…
Read MoreLLC Taxed as an S Corporation
An LLC taxed as an S corporation is a powerful tool for managing control, expenses, cash flow, taxes, operations, personnel, and business succession. Although by default an LLC is taxed as a partnesrhip, under “check-the-box” rules, an LLC can elect to be taxed as a corporation (C or S) using Form 8832. Just like a…
Read MoreFamily Councils: The Prosperity Key
The Durfee Family Council in this sketch could have been based on actual Family Councils my family has held. Its charts, tripods, business agenda, candid performance reviews, bad news delivery, weird humor, conflict resolution, and parental double teaming are very familiar to my children. It is no accident that it is about a “Durfee” Family meeting. Of all…
Read MoreStatutory Agent or Registered Agent Options
Statutory Agent A “statutory agent” or “registered agent” is an agent located within the state to receive service of process and notice or demand required or permitted by law on behalf of a company or entity. It is the law in all states that every business entity must designate a person or qualified entity to…
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