In most LLCs, each partner participates equally in the management of the business. This type of management is called “member management.” Alternatively, in a “manager managed” LLC, one or more partners is designated to manage the company and make decisions, while the others merely share in...
redeemed for travel, hotel stays, car rentals, etc. Tom assumed that when he passed away, his accumulation of reward points wouldsimply pass on to his kids, or whomever else he designated as part of hisestate plan. Despite Tom’s intended plan, the reward programs had a different plan ...
(C.D. Cal.): Successfully represented motion picture studios against class action brought by thousands of high-level employees who claimed their compensation was “unconscionably” low and the result of antitrust conspiracy among the industry’s major employers. Designated lead counsel after class ...
Probate vs. Non-probate Assets During the estate administration process, the distinction between probate and non-probate assets is essential. Certain assets, such as accounts with a designated beneficiary, may pass directly to that beneficiary without being part of the probate process. ...
This Public Act amends the Illinois Marriage and Dissolution of Marriage Act to provide that if a judgment of dissolution of marriage is entered into after an insured has designated his or her spouse as the beneficiary under a life insurance policy, then the designation in favor of the insured...
There should be at least one member required to start an LLC. Conversely, a minimum of two members is needed to start an LLP. A limited liability company must add “LLC” at the end of its name. Likewise, the limited liability partnership is required to add “LLP” at the end of its...