Warning to Business Owners- Are You Protected? 9 Questions to Consider
You probably started your business for a number of reasons whether it was business growth goals, asset protection, tax advantages, or a combination of these and other reasons.
However, if you want the asset protection and tax advantages, you must follow certain formal business procedures, including properly documenting your business actions.
For this reason, we developed the Corporate Shield Program that ensures that your business actions are properly documented, that formal procedures are followed and makes sure that your business records are updated as things in your business change, as things in your life change and as the law changes.
When was your business filed and what has changed since then?
When were your governance documents (Bylaws, Operating Agreement, Buy-Sell Agreement, etc.) last reviewed and what has changed since then?
Who prepared your Articles and governance documents?
When was your last business meeting and what has changed since then?
Who owns the business and what documentation do your business records have to support that ownership?
Who regularly updates your business records and files your periodic reports?
What major assets does your business own and what documentation do you have to support that ownership?
If you or a business partner becomes disabled or dies unexpectedly, can the business continue?
If you become disabled or die unexpectedly, will your business partners treat your family fairly?
If you can’t answer these questions with confidence, the only question that remains is:
Are you concerned enough to take action?”
For more information contact: Alexis Gonzalez, Esq. | Gonzalez Law, P.L. | 305.858.4512 | info@gonzalezlaw.biz