Life Insurance

This is a legal question about the value of assets. A whole life policy has cash value unless it has heavy loans against it. A term policy has...

How do you form a division in an LLC? Do any forms need to be filed with the state? with the Fed?

You have not expressed any concerns about liability, so a separate LLC should not be necessary. No state filings are necessary. You just set it...

Can I freely raise founds for my LLC, ignoring other member's consent? Can I put 80% of the profit as my manager bonus?

Your manager is apparently in breach of his fiduciary duties to the LLC and likely to you as a minority member. Your rights as a member of a WA...

You don't state whether you signed the covenant. If you didn't, they can't stop you from competing. If you did, what was the geographic area in...

Can I sue my old attorney who encouraged me to sign a contract that was illegal?

In a rare difference of opinion with Ms. Koslyn, I think you might have a case. In California at least, the statute of limitations (one-year) does...

Did you retain a security interest? This is commonly done by having a SecurityAgmt and filing a UCC-1 with the State If you didn't do this, you...

What liability insurance to use in CA?

An attorney needs several types of insurance: “Professional Liability Insurance” for malpractice ($5,000) and garden variety public liability...

S-corp, distribution, salary, etc.

See my answer to your other posting. I should add my conclusion. Your other shareholder should not receive a salary since he does not work at the...

S-corp, distribution, salary, etc.

Your situation is not unusual and there is a standard way to deal with it. Any shareholder who puts in time working in the business should get a...

Business law

Q No. 2: P1 brings the heart and soul of the business and should control. 51% to 80%. P2 is useful but replaceable . 5 to 10%. P3 is key,...