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Don’t be a General Partner! (Not Even by Accident)

A partnership is the most basic and perhaps the oldest type of business formation, and quite simply the easiest to enter into.  In fact, it is so easy to enter into, you may enter into without even knowing it.  Anyone you share profits with could legally be your partner, and your partner is legally obligated […]

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What is an Estate Plan?

In my years working as a Trust Officer, my clients would ask how often they needed to review and update their “estate plan”. For the wealthiest of that group, an estate plan could include a revocable trust, a Last Will and Testament, powers of attorney, a charitable trust, a family trust, a right to die […]

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How to Dissolve a LLC Properly

Last week, I wrote a blog article entitled How to Properly Dissolve a For-Profit Corporation (in New Mexico), which detailed how to dissolve an S-Corp or C-Corp, which is different from a limited liability company, or LLC. In many ways, the process to dissolve a LLC is very similar to what I described in the […]

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Partnerships

The next topic in our continuing discussion about selecting an appropriate form of entity for your business is “partnerships.” When the first two people in history came together in some hopefully lucrative enterprise, they had a “partnership” whether they knew that or not. Today of course, there is a little more to it. Generally, a […]

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