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4 aspects to consider when thinking about business succession

Over the years, you have likely formed a great attachment to your business. It has undoubtedly provided you with various opportunities for achievement and success, and you may wish you could continue running your company until you die. However, most likely you will choose to step down from your prominent position in the company when you reach retirement age or when other factors lead you to feel the need for change.

A will is not a catch-all for estate plan information

Like many Texas residents, you may feel ready to begin estate planning so that your family will know your end-of-life wishes when the time comes. You may also have a similarity with other individuals in that you feel uncertain where to begin planning and what documents to use. Because of its usefulness and versatility, you may first want to consider creating a will.

What does it mean that a shareholder filed a derivative suit?

Running a business involves making complex and perhaps even risky decisions in order to make it profitable and to find its place in the open market. As an officer or director of the business, you may be directly involved in many of those decisions. For better or worse, you do what you can to make the company a success and to make the shareholders happy.

The Benefits And Drawbacks Of Forming An LLC

One of the first critical decisions that a business owner needs to make centers on entity selection. Based on the goals of the new organization and the level of legal protection needed, there are numerous options available. From corporations (such as C and S corporations) to an LLC (limited liability company) to a partnership, a number of considerations go into the choice of entity.

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Plunk Smith, PLLC
1701 Legacy Drive, Suite 2000
Frisco, TX 75034

Phone: 972-370-3333
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Plunk Smith, PLLC
Plunk Smith, PLLC