News & Analysis as of

Family Businesses Business Ownership Limited Liability Company (LLC)

Farrell Fritz, P.C.

On Camera: My Recent Video Interview on, What Else, Business Divorce (Part One)

Farrell Fritz, P.C. on

I recently had the pleasure of being interviewed by Sandra Schulte at the media production studios of the Manhattan Neighborhood Network located near the Javits Center. Sandra, whom I met at a CLE program where I was a...more

Farrell Fritz, P.C.

The Little Buy-Sell That Could

Farrell Fritz, P.C. on

With apologies to the pseudonymous children’s book author Watty Piper, this is the story of a humble buy-sell provision in a family-owned LLC’s operating agreement that temporarily ran out of steam in the lower court, only to...more

Farrell Fritz, P.C.

Winter Case Notes: Tax Estoppel (Not) to the Rescue and Other Decisions of Interest

Farrell Fritz, P.C. on

The New York Times yesterday published an article entitled Climate Change Enters the Therapy Room discussing persons suffering from “climate anxiety.” As a northeasterner, the frigid, snow-blessed, ground-freezing winter...more

Farrell Fritz, P.C.

The Doctrine of Tax Estoppel in Ownership Status Disputes

Farrell Fritz, P.C. on

Ownership status in a closely-held business is the first and most vital box almost every business divorce petitioner must check....more

Farrell Fritz, P.C.

Disputes Over Member Status Continue to Roil the LLC Waters

Farrell Fritz, P.C. on

I don’t know if empirical studies have been done comparing the relative frequency or ratio of disputes and litigation over member status in LLCs versus shareholder status in close corporations. My impression as an avid...more

Ruder Ware

Estate Planning for Family Farms: What to do with the Land

Ruder Ware on

While most businesses use real estate, unique planning issues arise for family-farm owners because of the importance of real estate to the farm and family. There are several reasons for that....more

Farrell Fritz, P.C.

Top Ten Business Divorce Cases of 2018

Farrell Fritz, P.C. on

I’m very pleased to present my 11th annual list of this past year’s ten most significant business divorce cases. This year’s list includes four important appellate decisions, including one likely to stand as a landmark...more

Bradley Arant Boult Cummings LLP

Recent Rulings on “Family Limited Liability Entity” Election Create Traps for the Unwary

Although every LLC, limited partnership or other pass-through entity doing business in Alabama, and even those simply organized under Alabama law, are subject to an annual business privilege tax (BPT), certain entities can...more

Farrell Fritz, P.C.

A Pair of Unbrotherly Business Altercations Go to Trial

Farrell Fritz, P.C. on

Like most civil cases, the vast majority of business divorce disputes get resolved before trial, which is disappointing for us voyeurs since only at trial with live witnesses undergoing cross examination does one get the full...more

Lewitt Hackman

Game Changer? Succession Planning Targeted by IRS

Lewitt Hackman on

The Department of the Treasury wants to place limitations on valuation discounts that are currently commonly used to reduce asset values in family-owned and closely-held businesses, in an effort to increase tax revenue. The...more

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