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Frequently Asked Questions
We constantly strive to provide our clients with answers to all of their business and estate planning questions. Below you will find the most common FAQs to questions that we have encountered. For more information please contact one of the business and estate planning lawyers at The Kramer Law Firm.Buying or Selling Your Business
- How can I determine whether the business I want to buy is a sound investment?
- What is the best way to buy a business?
- What is a "Closing"?
- What is a Letter of Intent and Why is it Used?
Buying A Franchise
- Are Franchise Agreements Negotiable?
- What Things Should I Do Before Buying a Franchise?
- What Does a FDD Contain?
- What is a Franchise Disclosure Document (FDD)?
- What are the Advantages of Franchising?
- What is a Franchise?
Forming Your New Business
- What types of insurance will a Maryland small business owner need for the business?
- What is an LLC "Default Rule"?
- What Types of Events Should Terminate the Membership of the Members of a Maryland or Delaware LLC?
- What is a Trade Name?
- How are LLCs taxed by the State of Maryland?
- What information is required to be included on a Maryland LLC Articles of Organization?
- Does Maryland require LLCs to have a written operating agreement?
- How are single-member LLCs treated for federal income tax purposes?
- How are multi-member LLCs treated for federal income tax purposes?
- What are the various types of business entities?
- What are the benefits of forming an LLC relative to other business structures?
- In what state should I form my LLC?
- Should my LLC have a written Operating Agreement, and if so, what should it contain?
- What steps do I need to take to form my LLC?
- Why should I hire an attorney to form my LLC?
- What services should startups look for in hiring an attorney?
Operating Your Small Business
- What is a Non-Disclosure Agreement?
- Should a Maryland small business lease or buy equipment for the business?
- How can Maryland small business owners transfer businesses to their children?
- What requirements must Maryland small businesses comply with before hiring employees?
- Should and LLC have Directors and Officers like a Corporation?
- Can LLCs establish 401(K) plans or other tax-favored retirement plans for members?
- Should My LLC Issue W-2 Forms to its Members?
- How can I transfer an interest in a Maryland LLC?
- What can a single-member LLC owner do to maximize the statutory asset protection available under the Maryland Limited Liability Act after In Re Modanlo?
- What factors should be considered when signing a business real estate lease?
- What can cause a Limited Liability Company to fall out of good standing?
- Are my current business practices and structure placing my company at risk?
- What kinds of issues and documents should a company have reviewed by a lawyer?
- How can a properly drafted Buy-Sell Agreement ("BSA") protect my business interests?
- What unique factors must be considered when forming a business with family members?
- Do business owners need a formal exit strategy from a company, and if so, when should it be developed?
Tax and Estate Planning
- Why is a Will useful in estate planning?
- What Happens if I don't have a Will?
- What is required to have a valid Will?
- Why may Trusts be useful in estate planning?
- What are the different types of Trusts?
- Why may a Revocable Trust be more beneficial than just having a Will in some situations?
- Why is a Durable Power of Attorney useful in estate planning?
- How Long is a Durable Power of Attorney effective?
- What powers can be specified in a Durable Power of Attorney?
- Is a Durable Power of Attorney different from a Power of Attorney for Health Care?
- What is an Irrevocable Life Insurance Trust?
- Why do I need a Living Will/Advance Medical Directive?
- Why do I need a Durable Power of Attorney?
- What taxes will the beneficiary of my life insurance policy have to pay?
- What are the legal requirements for a valid will in Maryland?
- What taxes are payable when a Maryland resident dies?
- How should my will provide for my minor children?
- Why do I need a Will?
- What is a Revocable Trust?
- What are the Pros and Cons of having a Revocable Trust?
The Kramer Law Firm LLC
2275 Research Blvd
Suite 500
Rockville, MD 20850
Maryland Small Business Lawyers
Rockville | Bethesda | Gaithersburg | Germantown | Potomac
Washington, DC
2275 Research Blvd
Suite 500
Rockville, MD 20850
Maryland Small Business Lawyers
Rockville | Bethesda | Gaithersburg | Germantown | Potomac
Washington, DC