Tag Archives: llc

3 Asset Protection Tips You Can Use Now

A common misconception is that only wealthy families and people in high-risk professions need to have an asset protection plan.

But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that will decimate your finances.  

What Exactly Is Asset Protection Planning?

Asset protection planning...
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LLC Members: What You Need to Know about Your Fiduciary Duties

As a member of an LLC, you may owe a fiduciary duty to the company.

The two key fiduciary duties are the duty of loyalty and the duty of care. Whether you have a fiduciary duty will depend on the LLC’s management structure and whether you have management responsibilities. Understanding your duties is essential to avoiding...
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 LLC Operating Agreement: Is a Non-Compete Clause Necessary?

You and several friends start a new business and decide to operate it as a limited liability company (LLC).

Now that you’ve completed the first step—choosing a business entity—it is now important to prepare an operating agreement. The operating agreement is a contract which governs the operations of the LLC and sets forth the arrangements made...
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Snowbirds: What You Need to Know about Renting Out Your Property

Retreating to a warmer climate for the winter sounds like an ideal way to spend a few months.

To help make this dream a reality, some individuals choose to rent out their second homes when they are not in use. But before you list your second home for rent, there are a few things you should...
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