Piercing the corporate veil is a legal concept that involves separating the business entity from its owner, allowing the owner to be protected from personal liability for the business’s debts. The applicable law can be nebulous, and protection against personal liability may not always be available, especially if a single owner of a business uses personal funds to run the company—or uses the business’s funds for their own purposes. A recent legal case from North Dakota illustrates some of the factors that determine whether the business is operating separately or merely as the alter ego of its owner. Read on to learn more.
Lessons from the Court: West Dakota Oil, Inc. v. Kathrein Trucking, LLC
By WealthCounsel Staff on Aug 5, 2022 10:00:00 AM
Current Developments in Estate Planning and Business Law: July 2022
By WealthCounsel Staff on Jul 15, 2022 10:00:00 AM
From the Internal Revenue Service’s Dirty Dozen tax schemes to the standard applicable to waiver in federal arbitration cases, we have recently seen significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning and business law practice.
Current Developments in Estate Planning and Business Law: June 2022
By WealthCounsel Staff on Jun 17, 2022 10:00:00 AM
From the unenforceability of arbitration clauses in trusts to the applicability of the Americans with Disabilities Act to small businesses, we have recently seen significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning and business law practice.