BUSINESS PLANNING
Formations & Transactions
Legacy Planning Law Group knows that the best way to help our clients is to understand their business planning needs and help guide them along the way. If you’re interested in learning more about our formations and transaction services, please book your free 15-minute phone call with us today!
Business transactions & Formations in Jacksonville
Choosing the appropriate form of business is an important consideration for business owners – whether during the formation of a new business or the expansion of an existing business. The various business forms each offer differing advantages and disadvantages. These often include protection of the owner’s personal assets, tax treatment, ease of transfer, and limitation of liability. Beyond the selection and formation of business structures, business owners also need legal advice on day-to-day matters and transactions affecting their businesses.
UNDERSTANDING FORMATIONS AND TRANSACTIONS
The first step on the journey to owning your own business is having a great idea. The second step is to legally form your business. This involves drawing up legal documents and having them properly filed with the state. This is an extremely important step because it creates the legal structure for your business arrangement, and equally critical, it protects your personal assets from the liabilities of your business.
There are many different options when creating your business, and making the right decisions now will help you to avoid problems down the road. Corporate documents need to be carefully customized to properly fit the circumstances of each person or group of individuals. To start with, you need to decide how your business should be structured. Do you want to start an LLC (limited liability corporation) or a corporation? If you want to go with a corporation, should it be an S corporation or a C corporation? There are advantages and disadvantages to each option, and making the right choice up front is critical.
We work with many business owners seeking asset protection often provided by other business forms. We also work with owners of businesses whose needs are changing and whose form of business no longer serves their best interests
Even after the business has been formed, there are ongoing legal needs such as contracts and other types of business transactions. There are obligations that must be completed. Annual filings and meetings, for example, may be required. Having everything properly set up by a qualified attorney can help ensure the legalities of your business don’t get in the way of actually creating a successful business.
In addition to creating your business, you need to think about what will happen to it when you want to retire, or should you become incapacitated or even die. This is known as business succession planning and we can help you with that as well.
Some Additional Resources
The following resources are provided by The Balance Small Business
START PROTECTING YOUR LEGACY TODAY
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If you are committed to solving your planning needs and want to work with our skilled and experienced team, the first step to get started is booking your 15 minute phone call.
Explore Your Planning Needs
During the call, we will find out what your planning needs are so we can see if we can help you. We will also figure out if we would be a good fit for each other.
Schedule Your In-Person Consultation
At the end of the call, we will set up a time to meet with the team and create a plan that will protect your family and preserve your legacy.