Often, with clients who own their own businesses, estate planning and business planning issues should be addressed simultaneously. For a client at the initial stages of forming a business, legal advice is crucial in properly organizing their business. A misstep could affect a business's survival.
The formation or dissolution of a business organization and the purchase or liquidation of the assets of a business are transactions that affect the fundamental legal or financial structure of a business organization. Business owners engaged in those types of transactions frequently confront complex legal issues. The additional difficulty of being a small entity may further convolutes the deal.
The right legal services can help business owners address complex transactional and formation issues in ways that meet the objectives of business owners. With effective advice, business owners can make prudent decisions about selecting the correct form of organization for their business, establishing the financial structure of a business and completing other significant transactions. Clients are assisted by preparing organizational documents, agreements and other documents that are designed to protect the assets of a business and minimize the potential liabilities of business owners. Business planning for small business owners works hand-in-hand with estate planning and is equally important part of working to secure your assets.
Clients engaged in selecting business entities and forming business organizations may include:
- Sole Proprietorships
- Limited Partnershp
- Limited Liability Partnerships (LLPs)
- Limited Liability Companies (LLCs)
- C Corporations
- S Corporations
- Professional Corporations