Corporate Law Blog

The Need for a Special Needs Trust for Children with Special Needs

All parents worry about their children's future. When you have a child with special needs, however, that worry is often increased ten-fold. For parents with a special needs child, great care has to be given to not only the child's emotional, mental, and physical health, but also to their financial well-being. More >

The Importance of a Registered Agent for Your Business

Many business owners who are just starting out often overlook the fact that they need to appoint a registered agent. All corporations, nonprofits, limited liability companies, limited partnerships, limited liability partnerships and limited liability limited partnerships must continually maintain a Kentucky registered agent. A registered agent is simply the agent for service of process, notice, or demand required or permitted by law to be served on the business entity. Registered agents routinely receive important mail from the state, like annual reports or statements and tax documents. Service of process is the document which initiates a lawsuit against your company and starts the tolling of the statute of limitations. More >

Is My Business Required to Use E-Verify?

Federal law prohibits employers in the United States from employing individuals who may not legally work in the U.S. Electronic employment verification, or E-Verify, is the system Congress established to allow U.S. employers to determine whether a prospective employee may legally work in the U.S. E-Verify supplements the I-9 process; an employer cannot initiate an E-Verify query for a new hire until after the I-9 process is complete. The internet-based system allows businesses to determine whether their work force is legal. Despite the system being free and relatively easy to use, many business owners still want to know if they are legally obligated to use it. More >

Could Your Business Qualify for a 179D Green Building Tax Break?

If your company has built a new facility or upgraded an existing one anytime in the past six years, you might find that you qualify -- at least partially -- for a tax break of up to $1.80 per square foot under federal tax code section 179D, or the energy efficient commercial buildings deduction. This could be the case even if you had no concrete intention to focus on green building standards at the time. More >

The Sooner, the Better: Not Always True with Trusts

It is a story that estate planning lawyers are all too familiar with: a well-intentioned parent or relative establishes a trust for a child, the child reaches age eighteen - the age of distribution specified by the trust, and bam! The trust funds are gone in a flash; an inheritance spent on cars, clothes, or fancy vacations - not at all what the grantor of the trust had in mind for the beneficiary. More >

Did You Notify the IRS When Your Business Moved?

If your business or corporation has changed addresses in the past few years, are you certain the IRS was notified about your new address? If you’re not certain, you should check, or you could find yourself in an awkward situation if you’re ever involved in an IRS tax controversy. As a recent ruling by the U.S. Tax Court underscores, you could lose your right to challenge a federal tax lien if you missed the notification when it was misaddressed. More >

Important Considerations for Buying a Franchise

Operating a franchised business can be a profitable venture. Likewise, it can be a recipe for disaster. The distinguishing factors for success include how well an individual researches the franchise and his dedication to the business. More >

Asset-Based Loans: An Asset to Your Business

Asset-based lending was once the black sheep of financing. It was a last resort for companies and often signaled their demise. However, asset-based lending has shed its bad reputation in recent years, thanks to both the evolving sophistication of asset-based lenders ("ABLs") and the recession's blow to businesses everywhere. More >

It's All in the Family: Building & Protecting Family-Owned Business Assets

Where There's a Will, There's a Way. Where There's No Will, There's Escheatment

Recently, an estate planning failure of epic proportions made national headlines. Roman Blum, a Holocaust survivor and successful real estate developer, died without a will and no legal heirs. This scenario happens from time to time, but there is a twist to this story: Mr. Blum left behind an estate worth $40 million dollars. At the time of his death, he was divorced with no children and no known relatives. More >