Many divorcing couples own a family business operated by one or both individuals. When it comes to separating assets it can be difficult to determine how to split the business. Separating interests in a family business is both a difficult and exhausting process. Luckily, state divorce law provides some general guidelines to assist in these matters.

There are many sound strategies to protect the wealth you and your family have accumulated over the years. If you have a closely held family business that you want to protect from creditors and estate taxes, your attorney may well advise the preparation of a family limited partnership agreement.

Let's face it, not every small business makes it in today's economy. Sometimes, a business simply isn't profitable enough to remain open. In other situations, the owner may no longer want to run a business due to certain circumstances. Whatever is the case, many small business owners are left wondering how to close down the business.

When starting a new business, one of the critical decisions entrepreneurs face is choosing the right legal structure. Among the various options available, forming a Limited Liability Company (LLC) is often a popular choice. However, whether or not to establish an LLC depends on several factors that entrepreneurs should carefully consider.