Jeff B Skoubye

Limited Partnership: A Guide

A limited partnership (LTD) is a hybrid of a corporation and a partnership. The general partners manage the business on a day-to-day basis and are personally liable for the debts and liabilities of the partnership. However, the limited partners do not participate in the management of the business and only their assets used for purchase of their …

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Advanced Health Care Directive: Preparing for End-of-Life Care

Medical science can keep a person alive almost indefinitely, even when their quality of life has severely deteriorated. For reasons both personal and financial, most opt out of prolonging life under such conditions, particularly when there is little-to-no hope for recovery. It is also common to need someone with authority to make medical decisions when …

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Paying for Long-term Care

Aging adults sometimes transfer their property outright to children in order to avoid using their life’s earnings on long-term medical care. My advice? Don’t do it. There are a myriad of pitfalls to this practice, including: Having to turn to one’s children in times of need Increased capital gains taxes to the children when they …

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Why a Corporation May Be the Right Choice For Your Business

Corporations can be involved and diverse. Nevertheless, there are some things all corporations have in common. For instance, at its core a corporation is an entity separate from any of the parties forming it. It is formed by filing Articles of Incorporation with the state where it is located, and it consists of shareholders who …

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Limited Liability Company: Who Is It For?

A hybrid of partnerships and corporations, an LLC provides limited liability for all of its “members.” This is true even as management of the company may remain the same as a general or limited partnership. Its structure is flexible, allowing for a wide variety of situations, and formalities minimal, requiring little else than a filing of Articles of Organization with …

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Pros of a Revocable Living Trust

A trust is an entity (like a corporation) established to hold and manage property. It has its own separate existence apart from the grantor or creator of the trust. Trusts can be established during one’s lifetime (a “living” trust) or they can be established at death through a will (a “testamentary” trust). In the case …

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Employment Law: An Overview

Recruiting and Hiring ProceduresFor many employers the primary objective in the recruiting and hiring process is to generate a pool of qualified candidates from which the employer can then identify and hire the most qualified applicant. While most employers realize that their recruiting and hiring practices have the potential for legal liability, not all realize …

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