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Blog

Does Your Corporation Own Your Life Insurance?

June 14, 2024

Shareholders often (and should) enter into buy-sell agreements to provide for the purchase of their shares of stock upon the...
Purchase Agreement

Do you Have an Up-To-Date Buy-Sell Agreement?

May 26, 2022

Judy and John started ABC Manufacturing Co. in 1980. At the time, they outsourced all their manufacturing needs. They had no employees...
Sell Business

Are you Planning to Sell your Business?

September 24, 2021

You, the business owners, have just signed a “Letter of Intent” to sell your business for $10,000,000, “subject to buyer’s...
New Rules Regarding Retirement Benefits — More Secure?

New Rules Regarding Retirement Benefits — More Secure?

December 31, 2019

The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) is now effective. The Act made various changes to rules...
The Board Made a Wrong Decision –  Can (Should) it be Held Liable?

The Board Made a Wrong Decision – Can (Should) it be Held Liable?

May 16, 2019

The board of directors made the decision to acquire a company for $100 million.  The negotiations and the due diligence...
Taxpayer Attempts To Claim A Unilateral Settlement With IRS

Taxpayer Attempts To Claim A Unilateral Settlement With IRS

October 29, 2018

In his letter enclosing his $1,396 check, taxpayer asserted unilaterally that “we are now concluded on this tax return issue”...
Have You Looked At Your Buy-Sell Agreement Lately? Business Succession Planning

Have You Looked At Your Buy-Sell Agreement Lately? Business Succession Planning

September 5, 2018

John, Alexandria, Mary, Martin, and Yvette, formed the Jammy Sleepwear Company over thirty-five (35) years ago. They were equal partners...
Estate Planning and Administration: The Complete Guide

Estate Planning and Administration: The Complete Guide

June 26, 2018

Morris Saunders will be a presenter at a seminar entitled "Estate Planning and Administration: The Complete Guide" for the National...
Estate Tax Developments under the New Tax Act – What about Illinois residents?

Estate Tax Developments under the New Tax Act – What about Illinois residents?

February 15, 2018

Under the Tax Cuts and Jobs Act, the new federal estate tax system “exempts” from federal estate tax, all estates...
How Do You Value a Business for Buy-Sell Purposes?

How Do You Value a Business for Buy-Sell Purposes?

January 30, 2018

Owners of closely held businesses should have a buy-sell agreement if there are multiple owners. The buy-sell agreement, often incorporated...
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