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How to Choose the Right Legal Structure for Your Business

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Originally Posted On: https://croninlawfirm.com/how-to-chose-the-right-legal-structure/

 

In 2020, more than 630,000 couples in the United States got divorced. Divorce can be incredibly complicated, and you want to make sure you have a solid lawyer on your side throughout the process. But how do you go about finding a good family lawyer in Michigan?

There are a few steps you’ll want to take when you begin the search for a Michigan family lawyer. Read on to discover what you should look for and how you can narrow down your shortlist to find the perfect attorney for you.

1. Ask for Referrals

When you get ready to hire a family lawyer, one of the first things you’ll want to do is to ask for referrals. It can be hard to tell based on websites and online listings which attorneys will be a good fit for you. A great way to start making a shortlist is to talk to get recommendations from your friends and family.

Reach out to your loved ones who have recently gotten a divorce and ask them which family lawyer they worked with. Ask how their experience was with this lawyer and if they would work with them again. It can also be helpful to read online reviews, although it’s important to keep in mind that disgruntled clients are more likely to take the time to leave a review than satisfied ones.

2. Look for Experience

Once you have a shortlist narrowed down, it’s time to start taking a look at experience. You want to make sure your family lawyer knows what they’re doing and will get you the best results possible. Ideally, you want to work with someone who has at least ten years of experience, not a newbie to the field.

You’ll also want to check if your potential family lawyers have trial experience. Although it’s not anyone’s ideal scenario, sometimes divorces do wind up getting settled in court. If your situation winds up going to trial, you want to make sure your lawyer has the experience needed to represent you well.

3. Find a Specialist

When you start looking at different family lawyers, you’re going to see some “general practitioners.” These lawyers practice in all areas of law, and family law may well be on that list. But it’s worth making sure that this firm has dedicated family law attorneys who specialize in that area of the law.

It’s best to opt for a lawyer who specializes in family law in Michigan, rather than covering a number of areas of practice. This attorney will be intimately familiar with the latest developments in Michigan family law, including new precedents that may impact your case. You want that level of expertise on your side when it comes to negotiating the terms of your divorce.

4. Pick Someone You Trust

One of the most important factors in picking a family lawyer is actually one that’s hard to quantify. You need to trust your lawyer and be able to develop a good rapport with them. You can hire the best attorney in the state, but if you don’t trust that they’re working for your best interests, all their experience won’t matter.

As you’re doing interviews with your potential lawyers, pay attention to how you feel around them. Do they make you feel relaxed and reassured, like they’re someone you could trust? This may not be the number-one most important factor, but if you wind up trying to choose between two close options, it can tip the scales.

5. Talk Money

Once you’ve found the lawyer you want to work with, it will be time to start getting down to the brass tacks. Sit down with your lawyer and ask them how much they’ll charge and what sort of structure they’ll use. Many lawyers charge by the hour, but some lawyers may offer a divorce “package” that sets a flat fee.

It’s also a good idea to check on what’s covered in your lawyer’s charges. Will they charge you their hourly rate for responding to emails and phone calls? Do they charge extra for postage and mileage, and if they offer a package fee, does that include research time or will that be billed separately?

6. Discuss Details

In addition to sorting out the money with your lawyer, it’s a good idea to discuss some of the details of how your case will get handled. For instance, some of the larger national law firms will assign your case to a team of lawyers, rather than one dedicated person. You may have multiple points of contact, depending on how complex your case is.

Figure out who your point (or points) of contact will be and how often you can expect to hear from them. Ask how you can get in touch with them, including whether they prefer phone calls or emails. And check on how they’ll manage unexpected problems when they inevitably show up in the case.

Find the Right Family Lawyer for You

Divorce can be a challenging process, and you want to make sure you have a strong family lawyer at your side as you navigate it. Start by asking family and friends for referrals, and then check the experience of your shortlist. Opt for a family law specialist if possible, and choose someone you trust to handle your case well.

If you’d like to find the right family lawyer for you, check out the rest of our site at Cronin Law Firm. We are courageous in our actions, confident in our abilities, and compassionate with our clients. Book a consultation with us today and discover superior service and attention to detail.

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Are you looking to start your business but need help determining what legal structure is best for you? Do you want to know more about the advantages and disadvantages of each of these different business entities? There are over 902,000 small businesses in Michigan, and at one point, they have all wondered the same things.
 
There is no need to worry, though! The Cronin Law Firm has you covered with all you need to know about the available business entities you can incorporate to make the best decision for your business.
 

Different Business Entities

 
There are five main business entities you can choose from. Each legal structure comes with its disadvantages and advantages.
 

Limited Liability Company

With an LLC, you can protect your business from any personal assets in the event that someone tries to sue your company. This also means that your business taxes and debts are separate from your own personal tax and debts.
 
Another excellent benefit of incorporating it into an LLC is pass-through taxation. This means that the profits the business makes are not subject to corporate taxes; they are, instead, treated as the business owner’s personal income.
 
A limited liability company has many excellent benefits, but they are more expensive to incorporate, depending on your state. For example, in Texas, it costs about $300 to incorporate, whereas, in Michigan, it costs about $50 to incorporate as an LLC.
 
 Sole Proprietorship
 
A sole proprietorship is one of the most straightforward legal structures for a business. In this type of business entity, there is only one person who operates as the operator and owner of the company.
 
When you start a business, you are automatically considered a sole proprietor unless you change the business into another business entity. A benefit of being a sole proprietor is that you don’t have to file formal paperwork to incorporate your business or any business tax returns.
 
Because you operate as the owner and the operator, consider your business and personal assets to be one and the same. This could also be a curse for you, though. Because the government sees you as one entity, your personal assets could be at risk if someone tries to sue your company.
 

S-Corporation

 
An S-Corporation combines some benefits that an LLC offer with that of a corporation. For example, like an LLC, an S-Corp functions as a pass-through entity, and like a corporation, an S-Corp pays dividends to owners, which can help reduce payroll tax liability. S-corps have board meeting requirements, which can be a drawback for some businesses.
 

C-Corporation

 
A c-corp comes with many excellent benefits and offers the most significant level of separation between the owners and the business. Still, it is more complex than the other business entities.
 
In this type of legal structure, business owners don’t have any financial or legal liability for things related to the business. They also have the opportunity to take the most tax deductions. Unlike an S-Corp, a C-Corp can offer stock options.
 

Partnership

 
A partnership is like a sole proprietorship, but the main difference is there is more than one owner. In a general partnership, you divide the business profits, legal liabilities, and losses between the partners involved in the business. In a limited partnership, there are some active members and some silent members who invest in the business.
 

Starting a Business in Michigan

 
If you want to start a business in Michigan, there are many things you need to consider. Not only do you need to pick a legal structure, but you also need to consider tax implications and liability protection.
 
To ensure that your business has all it needs, you can reach out to a business lawyer. They can help you create your business plan and help you choose the correct business entity for your business concept.
 

How To Find a Business Lawyer

 
A quick online search may overwhelm you with many different Michigan business attorneys, but there is no need to worry. When looking for the right Michigan business lawyer, look at their reviews.
 
See what other clients liked or did not like about working with a specific attorney. You can also reach out to the lawyer to schedule a free consultation. Most reputable lawyers provide their clients with free no, obligation consultations so they can better understand your needs and what your business is about.
 

Make Sure They Are Business Lawyers

 
There are many different types of lawyers out there—some practice criminal law, while others practice tax or family law. When looking for an attorney, ensure they have their business law license.
 
They need their license in this type of law, and they should also have experience practicing business law. When you work with a reputable team of attorneys, such as the Cronin Law Firm, you can rest assured that you are working with lawyers who know what they’re talking about.
 

Get Help Choosing the Right Legal Structure

 
When starting a new business in Michigan, knowing what legal structure to go for is essential. There are so many benefits and disadvantages that come with the different types of business entities, and one option may be better than the other.
 
If you are unsure what option is best for you and your business, it is best to work with a reputable business lawyer who can point you in the right direction. To make sure your business gets started on the right foot, contact us for more information. We are here to answer any questions or concerns you may have.
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