Forming your business entity at Palm Desert Law Group, APC is not a one-size-fits-all process and is never handled in a vacuum. If you wanted a one-size-fits-all approach, you could easily use a document drafting service or online legal document website.
Before we form your entity, we get to know you, what is important to you, what your business is going to do in the world and how you plan to exit it one day. We ask you questions that will inform us of the tax structure of your entity, how you own the entity and what will happen to your business entity when you pass on (or you pass the company on to a new owner).
We ask the questions so you don’t have to worry about remembering everything you have to tell us. And then we discuss your options with you in a way that allows you to know you are making informed decisions about:
- Where to form your entity (Nevada, Delaware, Wyoming or your own home state are all options);
- What type of entity to form (LLC, S-Corporation, LLC taxed as an S-Corporation, Partnership, or C-Corporation are the most likely options we will consider);
- How to set up your bank accounts, what type of insurance to get, which agreements you need immediately (and which can wait), which intellectual property to protect (and whether to own it in a separate entity from your operating assets), how much and what type of insurance you need, how to work with your CPA for minimum tax savings and more.
We see the formation of your business entity as just the beginning of a long-term relationship in which we are able to become the trusted counselor you turn to for help with all of your business decisions.
Think about it this way – Warren Buffett doesn’t just turn to Charlie Munger (his personal business lawyer) for help incorporating his business entities, he turns to Charlie before entering into any business deal that will impact the bottom line. That’s the type of relationship we have with our clients.
We don’t really like the word compliance because it seems to suggest that we are going to restrict you in some way — but, it’s just the opposite…
Through our regular updating programs, we take care of all the little details, so, you can stay creative and expansive.
At most business planning law firms, the attorney-client relationship ends when you sign your incorporation documents. At Palm Desert Law Group, APC, however, we see the signing of your incorporation documents as the beginning of our relationship with your business.
Over time, your business will change and grow, your ownership structure may change, and we know for sure that the law will change. Your business documents must accommodate all of these changes in order to ensure your business is on track for growth and continued success.
If your business does not have annual meetings, maintain meeting minutes, have agreements, and is not properly updated and maintained over time, your legal documents become worthless – – worth no more than the paper they were printed on.
And the costs of failing to update your legal documents regularly are typically far greater than keeping everything current.
To help you make sure your entity is maintained properly, we offer Business Growth Membership Programs.
Our membership programs are designed so we can proactively monitor the activities of your business on a monthly, quarterly or bi-annual basis. By doing this, we can stay on top of your business’ legal, insurance, financial and tax details so you can relax and be more creative, more expansive, and live more into the possibilities for your business with the knowledge that everything else is handled.