In this article, you can learn about: The importance of choosing the right legal entity and formation location for your startup. How consulting a business attorney early on can help you avoid common pitfalls and ensure proper documentation. The various legal documents and contracts essential for startups and how an attorney can help draft and review them. What Are Some Of The Key Legal Considerations For Startups? How Can A Business Attorney Help Navigate Them? When starting a business, deciding on the type of entity to form and where to form it are crucial decisions. Most people choose between forming a Limited Liability Company (LLC) or a corporation, which can be either a C corporation or an S corporation. These choices primarily hinge on tax considerations and the business's goals. For example, a small, local business like a hair salon might benefit from forming an LLC in their home state. This structure is straightforward and cost-effective for a business that doesn’t plan to raise significant…Read More
In this article, you can learn about: The process and benefits of forming an LLC for purchasing investment properties and integrating them into a trust. The steps involved in LLC formation, including necessary documents and compliance requirements. How to find the right attorney to assist with LLC counseling, focusing on specialized corporate law expertise. How Can Your Firm Help Investment Property Owners Create An LLC To Purchase Property That Will Then Become Part Of A Trust? When it comes to investment properties, forming an LLC can provide significant advantages. Our firm assists in either purchasing property directly under an LLC or transferring it to an LLC post-purchase. The process begins with forming the LLC in the state where the property is located, such as California. This involves filing the articles of organization with the California Secretary of State, drafting a member consent form, and creating an operating agreement that outlines the company’s rules and ownership structure. Additionally, obtaining an Employer Identification Number (EIN) is essential…Read More
In this article, you will learn about: Key considerations in starting a business in California. How to protect your California business from litigation. The steps you’ll take when dissolving a California business entity. What Are Some Important Questions I Should Consider When Starting A Business In California? Embarking on the journey of starting a business is thrilling, yet it demands a significant investment of time and unwavering commitment. For those who are earnest about venturing into entrepreneurship, certain factors require careful consideration. The best first step to starting any business is to speak with an experienced business law attorney. During your consultation, you might consider the following questions: Are you going to be raising funds for your business? How many people are involved in the business? Do you plan on expanding or selling your business? What kind of entity will your business be? As you explore each question with your attorney, you'll gradually refine your business objectives and strategies. For instance, different business structures come…Read More
In this article, you will discover: The different types of guardianship for minor children. How the role of a guardian differs from the role of a trustee for minor children. How to fund a special needs trust. When Should A Guardianship Be Set Up For Your Minor Children? It’s important to establish guardianship for your minor children as part of your estate planning process. You can do this when creating your will, just be sure to designate a guardian for your child. Additionally, you might consider setting up a trust to further protect your child’s interests and inherited assets. Can Life Insurance Documents Be Included In Estate Planning As A Method To Provide For Minor Children? While life insurance can be included in a trust, there might be potential tax consequences to consider. Our firm specializes in trust creation and administration, but if you’re considering adding life insurance to your trust, it’s advisable to consult with a certified public accountant for guidance. Will My Child’s Guardian Automatically…Read More
When starting or buying a business, people often need to think about how they will set up their legal structure. Is it a sole proprietorship, joint venture, LLC or corporation? For best protection from liability, the latter two are often used. An LLC is less paper intensive than a C or S Corporation. For example, I bought a pizza parlor with a relative at 50/50 ownership. We set up a S corporation (requires a special filing with the IRS and is time sensitive) and listed our ownership, prepared the necessary documentation and state filings. Registering as a merchant, including getting payroll and liability insurance were among the many things we we had to do as new business owners. When thinking about setting up a legal entity, one should speak with and hire an attorney. I have seen new business owners look more at cost savings vs. what services will be provided and the quality of such services when thinking about forming a company. As such,…Read More
