Planning for Success: Gathering Your Team and Your Ideas

  1. When should I retain an attorney?

This is a question with a specific answer for each entity. Some people like to come to visit us before their company is off the ground and we help them legally form their entity and get things legally set up and squared away. Others prefer to form their entity on their own and then engage with us moving forward.

Some people come to us when they have a contract that needs preparation, or if they have a specific issue they want counsel on, but do not engage in a long-term, lasting relationship. Whenever you feel you need an attorney is likely the right time for you. If you would like to have a general conversation about when you should retain an attorney, consider attending our Legal Lounge.

  1. What should I bring to our first meeting?

If we are helping you set up your business, we will need:

(1) three potential names for your company, in order of preference;

(2) the name(s) and address(es) of each member or shareholder of the company;

(3) the respective ownership each owner will have;

(4) where your business is/will be located;

(5) what the purpose of your company is (i.e., what you will be doing); and

(6) the names of any other professionals you are working with.

  1. What other professionals do I need to work with?

We find that it is helpful for people to speak with their accountants prior to coming to us. Your accountant will be able to help you understand the tax benefits and consequences of choosing one entity structure over another and will be able to help steer you in the right direction. If you decide to come to us first, that is okay, but we will refer you to an accountant to discuss these important benefits and consequences. Beyond an accountant, some people like to work with financial advisors, small business advisors, and other trusted consultants.

Katelynn Ronan, Esq
Rudman Winchell