Gain insight into why NOT to form a single-member LLC.
Some may choose to form a single-member LLC just to get legal liability limitation, or just for perceived tax benefits, or to establish “legitimacy” as a business, per se. The first two of these reasons can be benefits of forming an LLC, but they are not the be-all and the end-all of criteria – or even the most important criteria one should consider when deciding which business organization structure is best for a new business. This video reviews common, yet often poor, reasons for choosing to form a single-member LLC.
Noel R. Bagwell, III, Esq.
- Founder of Executive Legal Professionals, PLLC (ExecutiveLP®)
- Decades of experience in offering comprehensive risk mitigation, setback recovery coaching, and consulting services that guide businesses and executives from adversity to success
- Founder of Counsel & Clarity Legal PLLC, a legal practice focusing on preventive law, which helps businesses avoid legal issues and maintain profitable relationships with their lawyers
- Developed a unique approach by integrating various disciplines, including philosophy, theology, psychology, and leadership coaching, to provide holistic support to clients whose problems often run deeper than legal matters
- Specializes in anticipating and mitigating legal risks through a preventive law approach, ensuring the success and peace of mind of organizations
- Offers leadership resilience coaching to help organizations rebound from setbacks with confidence, turning reversals into growth opportunities
- Over a decade of experience as a trusted advisor to start-ups, growth-stage companies, executives, and investors, forming the foundation of a robust support cycle that enhances high-performance leadership, legal support, and legal operations teams
- Offers solutions that complement, rather than replace, existing legal counsel, tailored to each client’s unique needs, to transform legal support relationships into profitable assets
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