Peter Mahler introduces his latest NY Business Divorce Blog as follows:
In this week’s New York Business Divorce, we discuss a recent decision serving as a reminder to corporate shareholders planning to bequeath their shares of stock to ensure no contracts prohibit them from doing so, lest they leave behind a very disappointed beneficiary.
The ruling applies equally to LLCs: In drafting provisions about transfers of members’ membership rights—e.g., upon their death—LLC lawyers should ensure that these provisions are consistent with members’ estate plans.
The link to Peter’s column is as follows:
The litigation issue addressed in the new post below from Peter Mahler’s NY Business Divorce website is one that few if any of us are ever likely to encounter in our practice (or, hopefully, in our lives). But it’s also true that while Peter’s posts are always excellent, few of them can fairly be described as “steamy.” If you like steamy blawg posts, click on the link below.
Here’s the link:
The link to the attached brief but excellent article in the ABA’s “Business LawToday,” entitled “The Sole Member’s Death: A Modest Proposal,” is as follows: https://businesslawtoday.org/2019/07/sole-members-death-modest-proposal/?utm_source=newsletter&utm_medium=email&utm_campaign=august19_articles
The new post by Lou Vlahos of FarrelFritz under the link below provides a brief but excellent discussion of the key issues in owner-and-manager succession planning for family businesses.
Here’s the link: https://www.taxlawforchb.com/2019/03/after-me-who-cares/