To the extent possible and manageable, I would use separate entities for liability purposes. In my opinion, especially in Utah, corporate filing fees are nominal and you can structure your business so that there is really only one single tax return.
I would recommend that you consult with an attorney and your accountant so that you can receive more specific recommendations based on your specific needs and situation.
JASON C. HUNTER
I agree with the prior post--you need to meet with an attorney to determine your options regarding enforcement or other arrangements (maybe other estate planning should be done (i.e., maybe the house shouldn't go to your brother) in light of his recent actions), and then you will have to make a decision (which might involve all of your surviving family members). The decision to proceed with legal action against your brother or to help him out will probably be a difficult one.
If you take...
It sounds like you have questions about a non-compete/non-solicitation agreement. A lot of facts will play into the enforceability of that agreement. Unfortunately, I can't gleam enough facts to provide much in the way of guidance. I suggest that you take the agreement and any agreement you are thinking about entering into and consult with an attorney on the issue to examine enforceability. In any case, it sounds like you will likely run into some issues if what you are contemplated is...
Your question seems to say that you are concerned about some liability from the State of Utah. You should note that some liabilities (e.g., tax liabilities) will go through the corporate veil to the party responsible for the decision. If that is the case with the liability you are referring to, the corporation may not protect you.
You should consult with an attorney and have information relating to the liabilities you are concerned about for a more definitive answer.
JASON C. HUNTER...
You most likely will lose your membership interest in the LLC (I can't think of an exemption that would permit you to keep them). Your loss of that membership will likely have an adverse impact on your partners (the other members) in the Florida LLC.
You should consult with a bankruptcy attorney on this issue.
JASON C. HUNTER
Salt Lake City Office:
299 South Main Street, Suite 1710...
Sounds like a tough situation. The answer is going to depend on your contracts (the lease agreement and utilities agreements). You will need to look at those and see if you are on them individually as being responsible for the whole (look for "joint and severally" as buzz words). Odds are that one of you signed up for the utilities and you may each be on separate on the lease, but you need to look at the documents.
If you can't pay, make a proposal to the landlord for a transition. It...
You really need to look at the terms of the contract determine what the obligations of the association are. Generally, if entered into an enforceable contract with a vendor, and now want to get out, they will seek some type of damages for early termination. If the contract deals with a lot of money, they would obviously be more inclined to pursue legal action to collect. If not, they may turn the contract over to a collection company.
I recommend that you visit with an attorney about the...
If you bought the condo, you cannot likely just back out. Rather, you will have to sell the condo to get out. If you are interested in renting, there may be ways around the rules that prohibit renting, which could help provide income from the condo while you market it.
If it is the rule changes that are making you want to sell, you can talk to a lawyer to see that the association followed all the necessary formalities to change the rules. If you do that, be sure to take a copy of the CC&...
If the will was properly prepared, you should be okay. If you did not have to do a probate (because your father's estate did not have any assets that were subject to probate), you might want to consider one just for the purpose of cutting off claims.
You should visit with an attorney to discuss the specific facts of your case and what you can do.
JASON C. HUNTER
I think you have it figured out. It sounds like you probably need to set up an entity of some type (almost certainly a Limited Liability Company), transfer the condo to that entity, be appointed a manager of that entity (at least for the purpose of managing the Condo), and then proceed with your compaign to get on the board. Filing fees for setting up a Utah limited liability company are $70 with the state, plus whatever legal fees you incur (fees will likely range from $200 to $1,000). The...