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Category: General

How are LLC’s Taxed?

March 10, 2021 by in General

Pass-Through Entity by Default Any business entity that has more than one owner and is not classified as a corporation is, by default, characterized as a partnership for tax purposes. This default classification applies to limited liability companies (LLCs). In other words, unless an LLC elects to be classified for […]

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What is a Trust Protector?

March 10, 2021 by in General

What Is a Trust Protector? Traditionally, the three roles that must be filled when setting up a trust are the settlor (also called a grantor, trustor, or trustmaker), the trustee, and the beneficiary. All three roles are necessary to create a trust that functions properly. Although it is relatively common […]

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