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For my business, I have done two things. First, I have a "key employees" insurance policy for my top employee. He's not an official partner, but he is instrumental in the success of the company. If he were to pass away, the policy provides enough cash to help me recruit and hire a replacement, and it also helps cover the reduced revenue/profit that we would ...

I have thought about that question quite a lot as I have two very young children, and I wanted to have their future secure in case something happens to me (doesn't have to be death, it could be complete incapacity to work). Two angles: 1. Personal: I have various insurances in place, so my wife is protected. If I die, she gets £1 million, which she can use ...

If your business is a sole proprietorship, then you, an individual, are the "legal entity", and the name you provide is your full name. Please note that in answering this question, I have not researched whether Apple's applicable terms and conditions permit you to register as an individual. Disclaimer: This information does not constitute legal advice and ...

I believe this is more a business question than a legal question. From the legal perspective, there is not a huge difference between converting to shares of a corporation vs. converting to LLC units or membership interests. The business difference is that many investors insist on investing in corporations rather than LLCs. Disclaimer: This post does not ...

Here is how I proceed : About the structures You are running company A and you have a large percentage of the shares. This can be dangerous if you die, so one solution is to have a holding company (I am speaking here of an holding under French law). Any representative of the holding can speak for it at the level of company A. So Company A, which is one of ...

Here's what I've done: Legally separate yourself from the center of your business entity as early as reasonable. This means a corporation of some form or at least a limited partnership rather than a sole proprietorship. Access. I regularly update a secure, encrypted file with every important password and account number vital to my life and business. A ...

Especially for single-member LLCs, the best state to organize is usually the state you're in. But, be warned -- there are some states where that's not true (New York, for example, is just plain horrible, partially because they require LLCs to take out ads in newspapers to advertise the LLC's creation!). Business licenses are generally given by ...

I specifically called Apple and asked this a few months ago. A sole proprietorship, even with a bank account with that name, is not sufficient. They will want to see your state papers, so that means LLC or C-Corp. They specifically said state paperwork, so maybe a sole proprietorship would work, but this is a question for them. The US number is 1 (408) ...

There's no "legal entity in Apple's terms". The definition of legal entity is anything or anyone recognized by the law and by the courts in a lawsuit. If you don't act on the behalf of an incorporated business, the legal entity is you. You need to consult with the Office of Secretary of State of California about the proper procedures of registering your ...