Small Business Planning | Borakove Osman LLC

Business Succession Planning: How to Ensure a Smooth Transition to the Next Generation

Posted on January 11, 2024

All family businesses, from bustling urban enterprises to the heartland's farms, face the inevitable question of succession. At Borakove Osman LLC, we understand that this transition is not just about the business changing hands; it's about preserving a legacy, sustaining a family's livelihood, and honoring the hard work of generations. Our Wisconsin-based...

A New Year’s Resolution: Your Estate Plan

Posted on January 17, 2023

There is no better way to bring together a new year's resolution of health, wealth and family than estate planning. The beginning of the new year is a time for resolution. People most often set New Year’s resolutions to focus on living a healthier lifestyle, like eating better, exercising more, or prioritizing their...

Buy-Sell Agreements: 2 Strategies

Posted on March 22, 2017

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....

IDGT: The Intentionally Defective Grantor Trust — More than an Estate Planning Tax Widget

Posted on July 2, 2013

I.D.G.T. - INTENTIONALLY DEFECTIVE GRANTOR TRUST

Conversion of Corporation to LLC???

Posted on July 19, 2012

With the increase of LLC formation of the past few years, current small and family-owned corporation owners may be asking themselves... Did I miss out on something? The classic attorney answer is, in short, it depends. The point of the post is to mention 2 key reasons to consider making the conversion. What the...

Estate and Business Planning for Family Farms

Posted on January 8, 2012

The Meaning of Farm Continuation Planning by Attorney Shayna W. Borakove, BORAKOVE | OSMAN LLC. "Attorney Borakove speaks about her personal experience with her own family's farm and how continuation is the goal of succession." Based on my own farm family, and having experienced the successful continuation of our family farm following the death...

Business Maintenance and Adequate Capitalization

Posted on October 11, 2011

Every bit of effort put towards the maintenance of your business is worth it- especially if such maintenance helps shore up the business against claims of third parties. Taking steps to incorporate (i.e., form a corporation) or organize a limited liability company in Wisconsin does not magically make a business owner's assets separate and...

“Busyness” Side of Business

Posted on October 1, 2011

Have you ever wondered how the term "business" first came about? I imagine it happened as follows: One night a very long ago, the collective intelligence, creativity and drive of two innovators collided, producing an unwielding need to trade/sell a specific product. They had perfected this product so much that its use had outgrown...