The "Internal Affairs Doctrine" means that the law of the state of incorporation normally determines issues relating to the internal affairs of a corporation. For example, if there is a dispute between two shareholders of a Delaware corporation, it would typically be decided using Delaware law, even if the company operates in another state. This
May 2010
Family LLC’s
By Ken Laino on
Posted in Estate Planning, Limited Liability Company
Family limited liability companies can be a convenient vehicle to hold and administer family investments. They offer significant benefits from both an estate planning and asset protection standpoint. Until recently, the entity of choice for family investments was a family limited partnership (often just called an FLP). While there is nothing wrong with an FLP, we are…