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Minority shareholder oppression can lead to shareholder oppression suits. A minority shareholder has to show that the majority shareholder breached a fiduciary duty. Almost 90 percent of the businesses in the U.S. are closely held companies, according to the Wall Street Journal. The Internal Revenue Service defines a closely held business as a business entity where more than 50 percent…
If you are starting to think about the end of your lifetime and the legacy that you would like to leave, it’s probably time to create a will. Many people wait too late before making their wishes formally known, and this can mean that they are never fulfilled, causing the loved ones that they left behind to experience great distress.…
When planning your estate, it’s likely that you have reflected on the legacy that you will leave behind after you pass away. While it’s likely that you will want to leave a large portion of the estate to immediate family members, you may also have a charity that is close to your heart. Leaving a portion of your estate to…
When you experience the loss of a loved one, the grief can be indescribable. It’s likely that your view of the world will change, and you may not recognize yourself for some time. While it’s possible to regain your sense of self and come through the grief process a stronger person, it’s also possible that tensions may arise between you…
If you’re considering starting your own company and becoming a freelancer, it’s likely that you crave a sense of freedom in your work and that you want to have more control over the way that you earn a living. Freelancing can have many advantages over working as an employee, and you may even find that you are able to increase…
When thinking about your legacy, you may come to the conclusion that your own children have already established themselves financially and would not benefit greatly from inheriting a portion of your estate. Your grandchildren, however, may still be in education or not yet able to purchase their own home. Therefore, you may wish to leave your estate to your grandchildren,…
If you have recently lost a loved one and they died with significant amounts of debt, you may be feeling worried and concerned about how these debts will be dealt with. You may fear that you will inherit these debts in the same way as you would inherit assets. The truth is that debts are not treated in the same…
Living wills are not designed for use after a person’s death as normal wills are. As the name suggests, a living will is for use during a person’s lifetime, during a time when they may not be able to state their preferences or make informed decisions. In most cases, living wills apply to situations regarding health care. For example, a…
If you have ambitions to be an entrepreneur or enterpriser, you’ll likely already have a business idea that you are confident you can be successful in. After you have created a business plan and have the funding that you need to get started, you should take the time to consider the type of business entity you want to form. Your…
If a loved one has recently died and you are surprised to learn that you are not included in their will, this is likely to make the grieving process even more difficult. You will likely have felt that you were one of the closest people in their life, especially if you’re directly related. This news can be especially tough if…