Partnership? Corporation? LLC? The business structure you choose will impact everything from your tax burden to your ability to attract investors. Pick wisely.
BUSINESS FORMATION
Sole Proprietorship
The simplest structure (and the fastest and easiest to set up), but sole proprietorships offer no liability protection. We help you weigh the risks, register properly, and understand what it means to operate when you are the business.
Limited Liability Companies (LLCs)
LLCs offer flexibility and liability protection without the formalities of a corporation. However, they rule out certain business functions. We assist with formation, filing, and creating an operating agreement that protects your interests.
Types of Partnerships
From general to limited to limited liability partnerships, each has unique implications for liability, taxes, and management. We guide you in picking the right one and drafting agreements that clearly define roles and protect all parties.
Types of Corporations
Whether you’re considering a C Corp or S Corp, incorporation involves complex tax and compliance considerations. We help you understand your options, handle filings, and structure things correctly from the beginning.
Professional Entities
Professionals like doctors, lawyers, and accountants often need special entity types. We assist with forming PLLCs or PCs that meet state requirements — while limiting liability and preserving your professional credentials.
Can You Switch From One Structure to Another?
Short answer? Yes. But doing so can be complicated.
The easiest change is probably from a sole proprietorship to an LLC. It’s essentially the same as starting an LLC from scratch, requiring a Certificate of Formation and an organizational meeting to approve and execute the governing document (e.g., Company Agreement).
Other structure changes, however, tend to be far more complicated, requiring official plans, approval, and additional filings.
And there’s always an associated cost. A fee wil be assessed for every filing to the Secretary of State, and often you may need to hire legal counsel and update internal documents.
Want to avoid this? Choose the right structure the first time.
Step 1
Schedule a Free Consultation
Reach out and set up a time for us to talk with each other. We won’t know if it feels like a fit until we get to talk.
Step 2
We Collaborate on an Estate Plan
Our team learns about you and your unique needs so we can work with each other to help you design your ideal plan.
Step 3
You Are Set Up for the Future
We’re committed to making sure you understand and feel confident in whatever plans we help you to create.
LGBTQIA+ ESTATE PLANNING
Sarah and Emily carefully created a will to secure their future together, naming each other as beneficiaries. However, in Texas, probate is a public process, meaning anyone – including Sarah’s estranged parents – could challenge their wishes in court.
With at least one required court date to appoint an executor, the door was open for objections, potentially turning their private decisions into public disputes. There was no guarantee of how a judge would rule, especially in a state where outcomes could vary, leaving Sarah and Emily vulnerable to a legal battle they never anticipated.
A trust offers a powerful solution by keeping everything private and avoiding the public scrutiny that comes with probate. Since there are no required court dates or hearings, there is significantly less opportunity for others to challenge your wishes. Anyone looking to stir up trouble must initiate a court proceeding themselves, which involves substantial effort and expense, including hiring an attorney, paying filing fees of over a thousand dollars, and navigating the uncertainty of how a judge might rule. For most people, this level of commitment is too much. Additionally, a trust safeguards privacy, allowing your partner to manage your affairs without drawing attention to your relationship, unless you choose to do so.
When Jake and Michael sat down to review their estate planning documents with an attorney, they had a lot on their minds. The recent political shifts had left them uneasy, particularly the growing uncertainty about whether their marriage would continue to be legally recognized.
As they reviewed their wills and trusts, the attorney pointed out a potentially troubling detail: most estate planning documents include a clause stating that if a divorce occurs, the spouse is treated as if they had predeceased the other. This clause, while standard, posed a significant risk for same-sex couples like Jake and Michael. If the law were to change and their marriage was no longer recognized, Michael could be treated as a divorced spouse and effectively removed from their estate plan.
Recognizing the concern, Austin Estate Plan adds an additional statement—one that would safeguard their wishes no matter what happened legally. The new language would ensure that even if their marriage was undone by changes in the law, Michael would still be named as Jake’s representative in all roles outlined in the estate plan. This proactive measure would keep their partnership intact within their estate planning, providing peace of mind in an increasingly uncertain world. Our firm is one of the few in the area offering this specific protection for same-sex couples.
As they reviewed their wills and trusts, the attorney pointed out a potentially troubling detail: most estate planning documents include a clause stating that if a divorce occurs, the spouse is treated as if they had predeceased the other. This clause, while standard, posed a significant risk for same-sex couples like Jake and Michael. If the law were to change and their marriage was no longer recognized, Michael could be treated as a divorced spouse and effectively removed from their estate plan.
