Call us today to see how we can help!

Experienced & Trusted Attorney

Frequently Asked Questions

1Can I convert my existing sole proprietorship or partnership into an LLC or corporation?

Yes.

Most states have a form that allows you to convert your business to an LLC. For states that do not have a conversion form, the business must file an application to become an LLC. Some states also require a partnership to run an ad in the newspaper announcing its dissolution. You must also remember to change all of your licenses and permits over to the name of your LLC. Contact a business lawyer for more advice.

2Should I have a Will?

Yes.

Without a will, your property may go to unintended beneficiaries. You do not need to have a large estate to need a will.

3Will my Estate require a Probate?

Maybe.

Missouri has several rules that simplify or eliminate the probate process when you are survived by a spouse or have a small estate and do not own real property..

4What is an LLC, or limited liability company?

An LLC is a hybrid entity.

It has some of the characteristics of a partnership, primarily for income tax purposes. It’s a pass-through entity and files a partnership income tax return for federal tax purposes. But it has the same liability shield as a corporation. This explainer is part of a larger story about undisclosed business interests in Missouri. In many respects it combines the best attributes of two historical types of business entities: limited partnerships and corporations.