Business owners often have a substantial portion of their wealth invested in their businesses and related real estate. This creates challenges in satisfying the desire to retain control, transfer value to children or other family members, and to minimize potential estate tax. Recapitalization of a business’ stock (or membership interest
If your closely held corporation has multiple stockholders, you should have a Buy-Sell Agreement. A Buy-Sell Agreement, also known as a Stockholder Agreement, or Restrictive Stock Transfer Agreement, is an agreement between the shareholders that governs the management and control of a business upon a shareholder’s death, incapacity, bankruptcy,
A common issue we confront with our business owner clients is a failure to adequately maintain fundamental business records. While the following discusses the importance of maintaining a corporate minute book, the same considerations apply to the governing documents for other types of entities, partnerships, limited liability companies, etc. A
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