Examlex
Social security benefits are often available resources to the family after the death of a family member.
Personal Liability
Legal responsibility of an individual to settle debts or legal judgments from their assets, not protected by business structures or limited liability.
Limited Partners
Investors in a partnership who have limited liability to the extent of their investment and are not involved in day-to-day management decisions.
Limited Partnership
A partnership where at least one partner has limited liability for the debts of the business, while at least one other has full liability.
S Corporation
is a type of corporation in the United States that elects to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code, allowing income to be passed through to shareholders and taxed at individual rates.
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