General Corporate

Stock Legal highlights the essential need for formal legal planning when a family farm is inherited by multiple heirs. The critical challenge arises when heirs hold the property as tenants in common, leading to three main points of instability: Liability Exposure, Management Gridlock and a Difficult Exit Strategy. The key benefits of using an LLC include: Asset and Liability Protection, which shields both the farm's assets from an heir's personal debts and the heirs' personal assets from farm-related liabilities; Clear Management and Governance, established through a mandatory Operating Agreement that defines decision-making, profit distribution, and formal buy-sell provisions; and Simplified Estate Transfer, as LLC membership interests are easier to transfer than fractional real estate ownership.

Stock Legal founder and Legal Back Office co-founder Sara Stock has acquired the historic 4709 Delmar Blvd building in St. Louis, formerly the Mavrakos Candy Company headquarters, to transform it into a dynamic new mixed-use hub.

Serving as a Trustee is a serious legal commitment. This post breaks down the four cornerstone fiduciary duties a Trustee owes to beneficiaries: the Duty of Loyalty, the Duty of Prudence and Care, the Duty of Impartiality, and the Duty to Inform and Account. Learn precisely what these obligations entail, from avoiding self-dealing to investing wisely and maintaining transparency. Crucially, we explain what constitutes a Breach of Fiduciary Duty and the legal recourse beneficiaries have to protect their rights.