Wednesday, October 8, 2014
If you co-own a business, you need a buy-sell agreement. Also called a buyout agreement, this document is essentially the business world’s equivalent of a prenup. An effective buy-sell agreement helps prevent conflict between the company’s owners, while also preserving the company’s closely held status. Any business with more than one owner should address this issue upfront, before problems arise.Read more . . .
Wednesday, July 16, 2014
The limited liability company (LLC) is a hybrid type of business structure, offering business owners the best of both worlds: the simplicity of a sole proprietorship or partnership, with the liability protection of a corporation. A limited liability company consists of one or more owners (called “members”) who actively manage the company’s business affairs. LLCs are relatively simple to establish and operate, with minimal annual filing requirements in most jurisdictions.Read more . . .
Monday, December 23, 2013
Family dynamics - tax changes - irratic markets. All of these components can make starting conversations about estate planning difficult for Wisconsin's farm families.
Dan Purtell with the Wilson Law Group estimates that 90% of Wisconsin farm families are behind on estate planning. Purtell also says that 70% of the farmland being held by the current generation will pass hands in the next 20 years - the catch is where will that land go.
Wilson Law Group has arranged for a number of estate planning forums in southern Wisconsin both in January and February. We've got the dates posted on our farm calendar.
To learn more about why estate planning isso critical to Wisconsin farm families - listen to Dan's conversation with Pam Jahnke.
Friday, May 3, 2013
Your family-owned business is not just one of your most significant assets, it is also your legacy. Both must be protected by implementing a transition plan to arrange for transfer to your children or other loved ones upon your retirement or death.Read more . . .
Friday, April 5, 2013
Designed to preserve family businesses for future generations, Family Limited Partnerships (FLPs) can help shelter your assets and reduce overall estate and gift taxes. FLPs are commonly used as part of business succession planning or business continuity plans, and often serve as an integral component of an estate plan for high net worth individuals.Read more . . .
With Offices in Madison, WI and Evansville, WI, the attorneys at the Wilson Law Group assist clients with Estate & Business Planning, Probate & Trust Administration, Elder Law and Medicaid Planning throughout Southern Wisconsin including Verona, Middleton, Sun Prairie, Cross Plains, Oregon, Black Earth, Janesville, Jefferson, Fort Atkinson, Baraboo, Reedsburg, Richland Center, Mount Horeb, Monroe, Beaver Dam, Dane County, Rock County, Green County, Iowa County, Richland County, Sauk County, Columbia County, Dodge County and Jefferson County.