Formation of a limited liability company (“LLC”) is a popular and viable alternative to a corporation or a partnership. An LLC features both the limited liability of a corporation and the tax advantages of a partnership. In addition, the LLC model offers great flexibility in choosing the appropriate rules to govern unique businesses, including the option for…

Trusts and Estates Partner, Patricia Annino, shares her insight on the complicated situation occurring when the family enterprise is owned in trust and the trustees simultaneously serve on the Board of Directors. Read the full FFI article here. “It is, of course, interesting to note (and not unusual) that the founder took 35 years to build a significant business and only…

This article examines two sides of one issue – competency. Patricia Annino, Rimon Partner, shares her analysis of the challenges presented by either sustained or diminished competence in family owned companies and for providing practical steps to help family enterprises plan for these challenges. Read the full FFI article here. “As Advisers, we have never been in…

Many people may have ticking time bombs in their investment portfolios that they are completely unaware of. The life insurance premiums currently being paid, may not be sufficient to keep the policies in force during the person’s normal life expectancy. Patricia Annino, of Rimon Law, comments on the legal liability of trustees and possible complications of…