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2 Replies Last post: Jun 3, 2009 6:54 AM by dublincpa

converting sole proprietorship into multi-member LLC - help

Jun 2, 2009 7:52 PM

Click to view pdmiller's profile Mogul pdmiller 43 posts since
Feb 5, 2009

I currently have a sole proprietorship in California and I would like to convert it into an LLC because I am taking on a partner in the business. Is this possible? Do websites like LegalZoom offer the right services for doing this? Should I consult a lawyer?


I'm trying to keep costs down, but I want this done right.


Any advice is appreciated,

Patty Miller, owner

AWDGS

www.awdgs.com

Tags: business_attorney, llc, attorney, business, self-employed, self_employed, lawyer, legal, llc Report as inappropriate
Click to view Immanu5's profile Professional Immanu5 3 posts since
Apr 7, 2009
1. Re: converting sole proprietorship into multi-member LLC - help Jun 2, 2009 11:12 PM
Yes, it is possible to convert your business to an LLC. LegalZoom is perfect for that type of service. The cost really depends on the state that your business will be registered, and the things you want because they have alot of good things to offer. It only took me 2 weeks to get all my papers. I hope this helped.
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Click to view dublincpa's profile Mogul dublincpa 165 posts since
Jan 29, 2008
2. Re: converting sole proprietorship into multi-member LLC - help Jun 3, 2009 6:54 AM

I strongly recommend using an attorney whenever there are multiple owners, without regard for the entity selected. LLC's have their own quirks on top of that. Add each state's little nuances and it is just a good idea.

Because you are focused on the business, a lot of elementary what ifs are likley to slide through without discussion. There are so many opportunities to avoid future headaches, minor and major, just by working with an attorney who will ask questions.

Good luck.
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