LLC and family limited partnership

Choosing Between a Family Limited Partnership and an LLC

When it comes to managing family assets or businesses, the choice of legal entity is crucial. Family Limited Partnerships (FLPs) and Limited Liability Companies (LLCs) are two popular options for estate planning, asset protection, and efficient wealth transfer. While both structures offer distinct advantages, the best choice depends on your family’s goals...

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Madison, WI cityscape to represent businesses

How to Balance Running Your Business and Its Legal Needs

Running a business is a demanding task. Business owners wear many hats, from managing day-to-day operations to planning for future growth. Among these responsibilities is ensuring your business stays compliant with legal requirements, which is critical to long-term success. However, balancing the operational side of your company with its legal needs can...

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How to Create a Succession Plan for Your Business

Whether you own a small startup or a long-established company, creating a solid business succession plan is critical to ensure your business’s continuity and protect your legacy. A well-thought-out succession plan prepares your business for a leadership transition, safeguarding its long-term success. This blog explains how you can craft an effective succession...

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Client meeting with business succession attorney

The Importance of Business Succession Planning for Family Businesses

In Wisconsin, where farms and other family businesses are the lifeblood of the local economy and culture, business succession planning is indispensable as the process through which both business longevity and family heritage are protected. At Borakove Osman LLC, we specialize in converting the complex maze of business succession into a...

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Buy-Sell Agreements: 2 Strategies

BUY-SELL AGREEMENT MECHANICS Stock Redemption vs. Cross Purchase  Stock Redemption Buy-Sell Agreement              Under a redemption arrangement, your Company agrees to redeem the shares/interest of a deceased owner at his death, and the owner agrees prior to death that his estate will transfer the shares back to the Company for an agreed-upon price....
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