Gain an understanding of whether you should keep a single-member LLC.
Should I Keep My Single-Member LLC? The answer to this common question comes with a few other questions for the member of the single-member LLC. Why did you organize a single-member LLC? What are the current benefits it is giving your business? What are the current costs? Are the benefits more valuable to you than the money you’re paying to cover the costs? If the answers to the above questions indicate that the costs outweigh the benefits, or there really wasn’t ever a persuasive reason for forming the LLC, the member should decide between dissolution and conversion. This video reviews keeping and converting single-member LLCs.
Noel R. Bagwell, III, Esq.
- Founder of Executive Legal Professionals, PLLC (ExecutiveLP®)
- Founder of Lead Again Consulting™
- Accomplished public speaker and legal trainer to thousands of attorneys and entrepreneurs, nationwide
- Author of How to Structure Your Business for Success: Choosing the Correct Business Structure for Your Entity and Lead Again: Survive Any Setback and Reclaim Calm Amid Crisis
- Winner of the Clarksville, TN Mayor’s Certificate for servant leadership, ongoing sacrifice, and commitment to collaboration and inclusion within a small business community
- Four-time winner of the Tennessee Supreme Court’s Attorney for Justice Award
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