by Dave Duringer - Protective Law Corp | Dec 4, 2024 | Asset Protection, Blended Families, Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Career Maintenance, Career Preparation, Charity, Creditors & Predators, Defensive Gun Use, Entity Formation, Estate Admin, Estate Planning, Estate Tax, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Firearm Training, Fortune, Gift Tax, GST Tax, GunLaw.Pro, Health Planning, Honor, Incapacity Planning, Income Tax, Life, Limitation of Liability, News & Commentary, Operation & Governance, Pet Protection, Probate Admin, Property Tax, Punishment, Regulatory Compliance, Religious Faith, Retirement Planning, Spendthrift Children, Tax Planning, Trust Admin, Venture Protection, WorldExaminer.com
by Dave Duringer - Protective Law Corp | Oct 17, 2024 | Asset Protection, Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Estate Planning, Estate Tax, Family Maintenance, Family Protection, Firearm Legacy, Firearm Training, Fortune, Gift Tax, GST Tax, GunLaw.Pro, Honor, Income Tax, Life, Limitation of Liability, Operation & Governance, Regulatory Compliance, Spendthrift Children, Tax Planning, Trust Admin, Venture Protection
Six years ago I posted this article proposing use of an advanced planning technique known as the Health and Education Exclusion Trust (HEET) to leave a dynastic legacy of firearm training. Such a trust might be called a Gun HEET. The Fall of the Republic and...
by Dave Duringer - Protective Law Corp | Oct 10, 2024 | Asset Protection, Blended Families, Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Career Maintenance, Career Preparation, Charity, Creditors & Predators, Entity Formation, Estate Admin, Estate Planning, Estate Tax, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Firearm Training, Fortune, Gift Tax, GST Tax, GunLaw.Pro, Health Planning, Honor, Incapacity Planning, Income Tax, Life, Limitation of Liability, Operation & Governance, Pet Protection, Property Tax, Punishment, Regulatory Compliance, Religious Faith, Retirement Planning, Spendthrift Children, Tax Planning, Trust Admin, Venture Protection
[Central Coast residents: You can safely ignore this article because we are here to help you with comprehensive planning.] Most of our local clients prefer to have the first meeting in person at our office in Morro Bay. After that initial meeting, many of these local...
by Dave Duringer - Protective Law Corp | Sep 27, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Estate Planning, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
When starting a business, entrepreneurs typically have two options: they can either build a new business or purchase an existing business. Buying an existing business can offer the advantages of name recognition and a proven business model. The advantages can be even...
by Dave Duringer - Protective Law Corp | Sep 26, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Income Tax, Limitation of Liability, Operation & Governance, Property Tax, Tax Planning, Venture Protection
Buying a business and purchasing real estate are two very different investments. Business ownership typically requires some management skills and knowledge about market conditions, consumer trends, staffing, and finances. Ownership of real estate, on the other hand,...
by Dave Duringer - Protective Law Corp | Sep 24, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Career Maintenance, Career Preparation, Entity Formation, Estate Planning, Family Protection, Financial Mentorship, Fortune, Honor, Income Tax, Operation & Governance, Regulatory Compliance, Tax Planning, Venture Protection
The decision to hire family members for your business is a delicate balancing act that involves both personal and professional considerations. Working with loved ones can create a sense of trust and unity within the workplace and has been shown to increase business...
by Dave Duringer - Protective Law Corp | Sep 23, 2024 | Asset Protection, Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Estate Planning, Family Protection, Financial Mentorship, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Tax Planning, Venture Protection
Starting a business requires a great deal of planning and execution. Exiting from your small business should entail a similar level of forethought and preparation. Nevertheless, some surveys indicate that nearly half of business owners have no exit strategy.[1] After...
by Dave Duringer - Protective Law Corp | Sep 19, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Estate Planning, Fortune, Operation & Governance, Regulatory Compliance, Venture Protection
The limited liability company (LLC) has only been around since the first LLC statute was enacted in 1977. Within a few decades, it has become the most popular legal entity formed by new US businesses due to its ease of formation, flexibility, low start-up costs, and...
by Dave Duringer - Protective Law Corp | Sep 18, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Estate Planning, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Limited liability is an important advantage provided by corporations and limited liability companies (LLCs). The personal asset protection that corporations and LLCs provide for their owners, however, is not absolute. To maintain the liability shield, owners must...
by Dave Duringer - Protective Law Corp | Sep 17, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
A shareholder agreement is a contract between the shareholders of a corporation that outlines the rights and responsibilities of each shareholder as well as the obligations of the shareholders to one another and the corporation. Shareholder agreements, also known as...
by Dave Duringer - Protective Law Corp | Sep 16, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Estate Planning, Fortune, Income Tax, Limitation of Liability, Operation & Governance, Regulatory Compliance, Tax Planning, Venture Protection
There is no law that limits the number of LLCs an entrepreneur can own. Forming multiple LLCs may make sense under certain circumstances: for example, companies that have several rental properties, separate businesses with common ownership, or when one business makes...
by Dave Duringer - Protective Law Corp | Sep 13, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Estate Planning, Fortune, Income Tax, Limitation of Liability, Operation & Governance, Tax Planning, Venture Protection
Increasing costs and rising interest rates have impacted many businesses. If your business is in crisis, there are steps you can take that could improve your business’s financial condition and help it successfully move forward. Entrepreneurs are competent, but they...
by Dave Duringer - Protective Law Corp | Jul 29, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Estate Planning, Estate Tax, Fortune, Gift Tax, GST Tax, Income Tax, Tax Planning, Venture Protection
The Tax Cuts and Jobs Act (TCJA) of 2017 made several significant changes to the tax code that affect small businesses and business owners. It introduced the qualified business interest deduction, added a bonus depreciation deduction for qualifying property, and...
by Dave Duringer - Protective Law Corp | Jul 28, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Estate Planning, Fortune, Income Tax, Limitation of Liability, Operation & Governance, Regulatory Compliance, Tax Planning, Venture Protection
The rise of home-based businesses represents a fundamental shift in the way Americans work. Home businesses offer their owners a convenient and flexible way to earn income without commuting to a traditional office. They may also qualify for tax breaks in the form of...
by Dave Duringer - Protective Law Corp | Jul 19, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Whether you are an entrepreneur starting a new business or are running a well-established business, your success often depends on safeguarding innovative ideas and information that give you an edge over competing businesses. If you have spent years perfecting a secret...
by Dave Duringer - Protective Law Corp | Jun 20, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Dying Embarrassed, Estate Admin, Estate Planning, Estate Tax, News & Commentary, Operation & Governance, Probate Admin, Tax Planning, Trust Admin, Venture Protection
In a major unanimous decision (Connelly v US) sure to cause revision of many business succession plans, the US Supreme Court earlier this month on June 6, 2024, rejected use of a corporate redemption obligation as an estate deduction. While the Court pointed out in a...
by Dave Duringer - Protective Law Corp | Mar 4, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Fortune, Limitation of Liability, News & Commentary, Operation & Governance, Regulatory Compliance, Venture Protection
National Small Bus. United v. Yellen, No. 5:22-cv-1448-LCB (N.D. Ala. Mar. 1, 2024) On Friday, March 1, 2024, in National Small Bus. United v. Yellen, Judge Liles C. Burke of the United States District Court for the Northern District of Alabama ruled via memorandum...
by Dave Duringer - Protective Law Corp | Feb 21, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Small business owners are no strangers to government regulations. There are many requirements that businesses must be aware of and comply with, including business license and permit rules. Most businesses must obtain licenses or permits, so it is important for each...
by Dave Duringer - Protective Law Corp | Feb 20, 2024 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Over time, your business can undergo significant changes. What may have started as a humble, one-person operation can grow into a more complex company, with multiple owners, employees, an evolving mission statement, and increasing risks. As the scope and goals of your...
by Dave Duringer - Protective Law Corp | Feb 19, 2024 | Asset Protection, Blog, Buying or Selling a Closely Held Business, Creditors & Predators, Fortune, Limitation of Liability, Regulatory Compliance, Venture Protection
Due diligence is the process of obtaining and verifying information about a company or person in preparation for a business transaction, such as an acquisition, merger, or potential new business partner. Generally, due diligence provides information about the company...
by Dave Duringer - Protective Law Corp | Feb 6, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Venture Protection
Americans have a “pull yourself up by your bootstraps” mentality that speaks to our individualism and enterprising spirit. This mindset is especially pronounced among business owners, who have chosen to forego the typical employment route in favor of creating their...
by Dave Duringer - Protective Law Corp | Feb 3, 2024 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Estate Admin, Fortune, Operation & Governance, Venture Protection
Financial winter is coming. Or is it? Despite renewed optimism that the US economy can avoid a deep downturn, economists say the chances of a recession in 2024 are still about even. Small businesses are feeling the pain from high inflation, declining consumer...
by Dave Duringer - Protective Law Corp | Sep 12, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Operation & Governance
If you are considering buying or selling a business, you may need an asset purchase agreement. An asset purchase agreement (APA) is a contract that specifies the terms and conditions for the sale and purchase of a business or certain business assets. The APA...
by Dave Duringer - Protective Law Corp | Aug 24, 2022 | Blog, Buying or Selling a Closely Held Business, Entity Formation, Operation & Governance, Venture Protection
With the country emerging from pandemic lockdowns and economic activity beginning to expand, small business owners are optimistic about the future. Supporting local businesses can help them grow and thrive in a post-pandemic economy. But what if you could help a...
by Dave Duringer - Protective Law Corp | Aug 22, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Entity Formation, Limitation of Liability, Operation & Governance, Venture Protection
Many business partnerships eventually come to an end. Like other types of relationships, when business partners decide to split up, the process can be amicable or contentious. For personal and professional reasons, dissolving the partnership on good terms is in the...
by Dave Duringer - Protective Law Corp | Aug 19, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Operation & Governance, Venture Protection
As a business grows, its ownership structure may change and an owner may need to be removed. Removing an owner of a limited liability company (also known as a member) may become necessary if a member retires, dies, changes career, commits a breach of conduct, or has a...
by Dave Duringer - Protective Law Corp | Aug 12, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Family Protection, Financial Mentorship, Fortune, Operation & Governance, Venture Protection
Your family and your business are two of your top priorities. You would not do anything to compromise either of them. But working with family members in a family-owned business presents unique challenges that can cause lasting damage to both if not properly managed....
by Dave Duringer - Protective Law Corp | Aug 10, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Family Maintenance, Family Protection, Fortune, Operation & Governance, Venture Protection
Conflicts are inevitable within businesses and families. Personal rivalries, differences of opinion, competition for resources, and questions of prestige can set individuals at odds and lead to warring factions with competing loyalties. Resolving conflicts in both...
by Dave Duringer - Protective Law Corp | Aug 8, 2022 | Asset Protection, Blog, Business Succession, Buying or Selling a Closely Held Business, Creditors & Predators, Entity Formation, Estate Planning, Family Maintenance, Financial Mentorship, Fortune, Limitation of Liability, Operation & Governance, Regulatory Compliance, Tax Planning, Venture Protection
Trusts are usually associated with estate planning, but trusts can also apply to business operations. As a small business owner, you can hold the business in a trust instead of using a business entity such as a limited liability company (LLC) or corporation. Business...
by Dave Duringer - Protective Law Corp | Aug 1, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Fortune, Venture Protection
Part of the reward of being a small business owner is seeing your hard work pay off over the years. The many sacrifices you made for your business can all seem worth it on the day you close a deal to sell your company. But if you are dreaming of that day, it will take...
by Dave Duringer - Protective Law Corp | Jul 25, 2022 | Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Fortune, Venture Protection
In theory, a limited liability company (LLC) can last in perpetuity. However, the owners of an LLC should plan for the day when they are no longer there to run their business. This includes not only situations like retirement or career change, but also a decidedly...
by Dave Duringer - Protective Law Corp | Jul 22, 2022 | Blog, Buying or Selling a Closely Held Business, Fortune, Venture Protection
An equity purchase agreement, also known as a share purchase agreement or stock purchase agreement, is a contract that transfers shares of a company from a seller to a buyer. Equity purchases can be used to acquire a business in whole or in part. They are frequently...
by Dave Duringer - Protective Law Corp | Jun 28, 2022 | Asset Protection, Blog, Bloodline Protection, Business Succession, Buying or Selling a Closely Held Business, Career Preparation, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Fortune, Honor, Incapacity Planning, Operation & Governance, Venture Protection
Benjamin Franklin famously quipped, “If you fail to plan, you are planning to fail.” From the very beginning, you had a plan for your business to succeed. You set goals and developed methods to achieve those goals. Your business has stood the test of time because you...
by Dave Duringer - Protective Law Corp | Jun 10, 2022 | Blog, Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Venture Protection
We protect what we value most with insurance. Car insurance and home insurance ensure that we can financially survive a major property loss. Life insurance pays money to beneficiaries after a death, acting as a financial lifeline to the deceased’s loved ones. Business...
by Dave Duringer - Protective Law Corp | Dec 23, 2020 | Business Succession, Buying or Selling a Closely Held Business, Venture Protection
If you are a business owner, you probably worry about your bottom line, employee retention, and health insurance premiums, but have you also considered what will happen to your business if you are in an accident? What if your business partner gets divorced and...
by Dave Duringer - Protective Law Corp | Sep 17, 2019 | Business Succession, Buying or Selling a Closely Held Business
As a partner or co-owner (private shareholder) of a business, you’ve spent years building a valuable financial interest in your company. You may have considered setting up a buy-sell agreement to ensure your surviving family a smooth sale of your business...
by Dave Duringer - Protective Law Corp | Jun 17, 2018 | Business Succession, Buying or Selling a Closely Held Business
More on this topic at our weekly seminar here. In closely held businesses, owners and managers are focused on operations and usually don’t have extensive experience buying and selling companies. However, advanced exit planning allows owners and management to...
by Dave Duringer - Protective Law Corp | Feb 9, 2017 | Buying or Selling a Closely Held Business, Limitation of Liability, Venture Protection
Aggrieved parties have long been able to sue in federal court for copyright, patent, and trademark violations. Surprisingly, no corresponding private cause of action has existed for trade secret theft. Instead, trade secret cases were the domain of state...
by Dave Duringer - Protective Law Corp | Jan 9, 2017 | Asset Protection, Buying or Selling a Closely Held Business, Estate Planning, Income Tax, Tax Planning, Venture Protection
For international investors who want to thrive in the California lifestyle, they face three different issues: immigration status, business investment and tax planning. For these clients, I recommend they consider “Roundtripping”, (i.e., they invest in a CA...
by Dave Duringer - Protective Law Corp | Dec 28, 2016 | Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Family Protection, Financial Mentorship, Venture Protection
(Get your parents into our free 2-hour estate plan design meeting.)
by Dave Duringer - Protective Law Corp | Dec 24, 2016 | Business Succession, Buying or Selling a Closely Held Business, Estate Planning, News & Commentary, Venture Protection
Sad to see the NRA succumb to bigotry, or playing to bigotry, in the title of this article. “Big Law” would have been more accurate than “Corporate Lawyers” — there is no need to lump all corporate counsel in with this insanity, any more...
by Dave Duringer - Protective Law Corp | Dec 24, 2016 | Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Family Protection, Religious Faith, Venture Protection
Merry Christmas: Two-thirds of Democrats (66 percent) said stores or business should greet customers with “Happy Holidays” or “Seasons Greetings” instead of “Merry Christmas” out of respect for people of different faiths. Two-thirds of Republicans (67 percent) said...
by Dave Duringer - Protective Law Corp | Oct 21, 2016 | Asset Protection, Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Venture Protection
You’re likely familiar with the basics of private equity investing: PE funds invest in private companies and other assets with the aim of later selling their stakes at a profit, typically after five to seven years. The term “private equity” encompasses a wide variety...
by Dave Duringer - Protective Law Corp | Jul 28, 2016 | Business Succession, Buying or Selling a Closely Held Business, Venture Protection
Need help? ExitLegal.com If you want to sell your online business, you’re going to require a strategy. There are a lot of different elements you need to be thinking about, and all of your records need to be up to date and in order. The sale process can be daunting; so...
