DeAngelis Legal performed a corporate review of the structure and records of several new clients and proposed recommended changes to confirm with each client’s operations and objectives. The clients created several entities over the years, creating a rat’s nest of entities. Separate entities provide enhanced creditor protection, but owners need to adhere to corporate formalities and the creation of separate entities needs to be balanced against administrative burden. If corporate formalities are not followed, the corporate veil can be pierced, and the owners will potentially lose their protection.
By Quinn DeAngelis|2022-07-21T12:07:19-07:00October 15th, 2021|Recent Projects, Succession Planning, Protecting Family Wealth|Comments Off on September 2021 Corporate Review