Hunt & Associates P.C.

Feb 27, 2017

Executor of Estate Found Personally Liable to IRS for Decedent’s Unpaid Taxes

Gold dollar signsBenjamin Franklin once observed “in this world, nothing can be said to be certain, except death and taxes.”  For those who doubt Franklin’s sagacity in that regard, consider the recent case of Marci McNicol.  A federal court found her personally liable to the Internal Revenue Services to the tune of $125,000.00 with respect to taxes owed by her late husband.  Here’s what happened.

On his death, in addition to their four minor children, McNicol’s husband … Read more

Apr 26, 2011

Reducing Fiduciary Duties in Oregon LLCs: How Far Can You Go?

Freedom of contract is one of the principal principles in the law of limited liability companies.  That is, limited liability companies were legislatively created to enable the equity owners of such companies to contractually define their relationship vis-à-vis their company and each other to the fullest extent reasonably possible.  The limited liability company operating agreement provides the vehicle for the exercise of that freedom.  Unfortunately, such freedom can make trust more expensive where the members … Read more