By: Daniel A. PerryUnfortunately, it depends. If you have a Limited Liability Company (LLC), owners (called members) are generally not liable for the debts and liabilities of the LLC. For example, if your company was sued for $25,000.00, the other party could only collect from the assets of the LLC. The other party could not […]
By: Daniel A. Perry An LLC, which stands for limited liability company, is one of the most popular types of business entities because of its ease in formation. In general, the members of an LLC are not held personally liable for the debts and liabilities of the company. An LLC is formed upon filing Articles of […]
By: Daniel A. PerryWhen it comes to operating your business correctly, there are several legal items that require every business owner’s attention. No matter how many times I explain the importance of formation and governance of a business’s legal entity, I have discovered that a story works much better to explain the legal importance of […]
By Daniel A. Perry, Esq.One of the passions that I have in addition to the law is helping new entrepreneurs with starting and succeeding in business. There is nothing greater, in my opinion, then being your own boss. However, in today’s legal landscape, choosing the correct legal entity can make all the difference in the […]
By: Daniel A. Perry Starting a business is one of the biggest decisions you can make for your career. It can affect your career, your family, and your future. It is no secret that 30% of businesses fail in the first two years, and nearly 50% fail in the first five years. Many times, it is […]
By Daniel A. Perry, Esq.When families come into my office to discuss their estate planning and legacy planning legal strategy, rarely do they consider the topic of asset protection planning. In fact, many families that I speak with do not think they are wealthy enough (whatever that term means) to consider asset protection planning. So, […]
By: Daniel A. Perry Recently, I was speaking with a couple regarding their rental properties and other investment properties. This couple owned properties in the state and out of the state. In addition, they were also silent partners in a small business which was generating them a decent amount of revenue. When I asked the […]