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Estate Planning After a Dementia Diagnosis
Ideally, estate planning is completed before a health crisis or dementia diagnosis. But a diagnosis doesn't necessarily mean it's too late. If a loved one has recently been diagnosed, it's important to find out what can still be done before those options become more limited.
Without a succession plan, a business owner’s family and/or co-owners are forced to make quick and stressful decisions. Having a procedure in place is invaluable.
The limited liability corporation, or LLC, is designed to combine the flexibility and simplicity of a basic partnership with the protection of a corporation. “LLC” stands for “Limited Liability Company” and owes its name to the fact that the members (owners) of the LLC are not personally liable for the debts and liabilities of the business.
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The Connelly vs. IRS ruling has significant implications for buy-sell agreements and corporate redemptions.
