Articles

A Chink in the Armor: Limited Liability Business Entities Do Not "Absolutely" Protect Owners From Personal Liability

Written By Michael J. Parrish and Ryal W. Tayloe

Limited liability protection offered by business entities is invaluable to owners.  However, that protection is not absolute.  In certain circumstances, an owner may be held personally liable for wrongful actions…

Use of Limited Liability Companies in Estate Planning

Limited liability companies ("LLCs") and limited partnerships ("LPs") frequently are used to accomplish two important estate planning objectives. First, these entities facilitate gifts by individuals to their children and …

Distressed Real Estate Developments: Opportunities and Traps for Lenders and Investors

Written By Samuel B. Franck

Special Bulletin DEVELOPMENT ISSUES Recent media reports discuss the impact of the "Great Recession" on unemployment, jobs, and foreclosures of individual residences.  But what has not been generally discussed by th…

Congratulations, You're a Landlord – Now What?

Written By Clifford P. Parson

So you took our advice ("Prudent bidding on real estate at a foreclosure sale" – http://wraltechwire.com/business/tech_wire/news/blogpost/7334076/).  You found residential rental property in foreclosure and you …

The New Federal Estate and Gift Tax Rules: Do I Really Need an Estate Plan Anymore?

Written By Matthew W. Thompson

Recent legislation significantly changed the federal transfer tax rules (which govern the taxation of gifts and estates).  In light of these changes, many have questioned whether estate planning remains a necessity fo…

Making the Tax Code Work for You and Your Business – Business and Individual Tax Planning Opportunities in 2011 and 2012

Written By Lee C. Hodge

You are likely aware that various business and individual income tax provisions were enacted in 2001 and 2003 during President George W. Bush's administration, and that these tax provisions are referred to colloquially as …