Business Succession Planning: Techniques and Considerations

By WealthCounsel Staff on Feb 24, 2023 10:00:00 AM

Business Succession Planning (2)

Experienced and effective leadership is a key component of long-term business success. However, only 35 percent of businesses have a formalized succession plan—a startling statistic considering that retiring Baby Boomers will comprise the largest exit from the workforce in US history. Whether you own your practice or advise business-owning clients, succession planning is vital to ensure a smooth transition. Keep reading to learn some top techniques and considerations to keep in mind.

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

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

Lessons From The Court-Blog

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


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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