Estate Planning as a Business Owner
A business owner’s estate plan, no matter how complex, can be implemented any time before death, so long as the testator is still legally competent (“sound minded”, including that they understand the nature of making a will, the extent of his/her property, and know who would be considered the natural object of his/her bounty, etc.). Regardless, […]
Do you know what is important about the “Purchase Price Allocation” in an asset purchase transaction?
Generally speaking when purchasing a business, the buyer is only going to want to acquire the assets of that business and not buy the actual business entity. Why not? Well, the entity could have unwanted characteristics or hidden liabilities. For example, if the previous owner made a mistake on a tax return, that mistake could lead to thousands in […]
