{"id":63,"date":"2014-06-02T12:20:30","date_gmt":"2014-06-02T16:20:30","guid":{"rendered":"https:\/\/handponist.lawblogger.net\/blog\/?p=63"},"modified":"2023-03-08T15:19:20","modified_gmt":"2023-03-08T20:19:20","slug":"family-businesses-succession-planning-for-llcs","status":"publish","type":"post","link":"https:\/\/www.hpindiana.law\/blog\/family-businesses-succession-planning-for-llcs\/","title":{"rendered":"Family Businesses: Succession Planning for LLCs"},"content":{"rendered":"<p>Owners of Indiana LLCs (and their lawyers) can learn some lessons from a recent case involving an Alabama LLC. The case is <a href=\"http:\/\/cases.justia.com\/alabama\/supreme-court\/1110422.pdf?ts=1396106514\">L.B. Whitfield, III Family LLC v. Virginia Ann Whitfield, et al<\/a>.<\/p>\n<h2>The Whitfield Case<\/h2>\n<p>L.B. Whitfield, III owned half of the voting stock in a business that had been in his family for generations. The other half had belonged to L.B.\u2019s brother, who died and left the stock to a trust for the benefit of his son.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.hpindiana.law\/blog\/family-businesses-succession-planning-for-llcs\/\"  title=\"Continue Reading Family Businesses: Succession Planning for LLCs\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Owners of Indiana LLCs (and their lawyers) can learn some lessons from a recent case involving an Alabama LLC. The case is L.B. Whitfield, III Family LLC v. Virginia Ann Whitfield, et al. The Whitfield Case L.B. Whitfield, III owned half of the voting stock in a business that had been in his family for [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-63","post","type-post","status-publish","format-standard","hentry","category-estate-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Family Businesses: Succession Planning for LLCs &#8212; Indiana Law Blog &#8212; June 2, 2014<\/title>\n<meta name=\"description\" content=\"Owners of Indiana LLCs (and their lawyers) can learn some lessons from a recent case involving an Alabama LLC. The case is L.B. Whitfield, III Family LLC &#8212; June 2, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hpindiana.law\/blog\/family-businesses-succession-planning-for-llcs\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Family Businesses: Succession Planning for LLCs &#8212; Indiana Law Blog &#8212; June 2, 2014\" \/>\n<meta name=\"twitter:description\" content=\"Owners of Indiana LLCs (and their lawyers) can learn some lessons from a recent case involving an Alabama LLC. The case is L.B. Whitfield, III Family LLC &#8212; June 2, 2014\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael R. Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Family Businesses: Succession Planning for LLCs &#8212; Indiana Law Blog &#8212; June 2, 2014","description":"Owners of Indiana LLCs (and their lawyers) can learn some lessons from a recent case involving an Alabama LLC. The case is L.B. Whitfield, III Family LLC &#8212; June 2, 2014","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.hpindiana.law\/blog\/family-businesses-succession-planning-for-llcs\/","twitter_card":"summary_large_image","twitter_title":"Family Businesses: Succession Planning for LLCs &#8212; Indiana Law Blog &#8212; June 2, 2014","twitter_description":"Owners of Indiana LLCs (and their lawyers) can learn some lessons from a recent case involving an Alabama LLC. The case is L.B. Whitfield, III Family LLC &#8212; June 2, 2014","twitter_misc":{"Written by":"Michael R. 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