Lessons from the Court: West Dakota Oil, Inc. v. Kathrein Trucking, LLC

By WealthCounsel Staff on Aug 5, 2022 10:00:00 AM

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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.

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The 5 Ws of Using Nonmember Managers

By WealthCounsel Staff on Jul 29, 2022 10:00:00 AM

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Limited liability companies are typically run by a sole member or some or all of its members. However, sometimes it is best for a limited liability company (LLC) to be managed by a third party nonmember manager. Keep reading to learn how to advise your business-owning clients about when to consider using a nonmember manager. 

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Estate Planning Trends 2022

By WealthCounsel Staff on Jun 10, 2022 10:00:00 AM

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Estate planners have needs and concerns that change each year. That is why WealthCounsel teamed up with Trusts & Estates magazine and Informa Engage to conduct an annual survey of more than 500 estate planning professionals. 

This year’s major topics included cryptocurrency and nonfungible tokens (NFTs); referral sources; and the upcoming sunset of the Tax Cuts and Jobs Act. Read on for details about the survey results.

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