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 Lead Again™, a leadership consultancy helping leaders reclaim calm from crisis by developing competence, confidence, and trust (https://www.noelbagwell.com/)
- Operates ExecutiveLP®, a virtual law firm based in Nashville, Tennessee
- Has won numerous awards, including the Tennessee Supreme Court’s Attorney for Justice award for his pro bono work with veteran entrepreneurs, as well as the Clarksville, TN Mayor’s Certificate (2019) for his contributions to the business community in that city, which, in 2019, Money magazine named the Best Place to Live in America.
- Exclusively works with business clients to transform their legal support from a cost center to a profit engine through ExecutiveLP’s legal operations install service, Profit from Legal™, and ExecutiveLP’s Legal Lifeline and Signet™, outside general counsel services
- Author of How to Structure Your Business for Success, a book of legal guidance for startups interested in putting their new venture on a firm legal foundation; Profit from Legal, an upcoming book structuring legal operations around the use of legal key performance indicators to create the conditions necessary for legal support to generate positive ROI for businesses; and numerous print and electronic articles for the Nashville Bar Journal and various blogs
- J.D. degree, Cumberland School of Law at Samford University; Scholar of Merit: Economic Analysis of Law; B.A. degree in Philosophy, minor in international studies, Austin Peay State University
- Can be contacted at 615-716-0606 (option 5), [email protected], LinkedIn® https://www.linkedin.com/company/2779139/; LinkedIn Group https://www.linkedin.com/groups/13936380/; Twitter @ExecutiveLP; https://www.twitter.com/ExecutiveLP; Facebook https://www.facebook.com/ExecutiveLP; or Facebook Group https://www.facebook.com/groups/profitfromlegal
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