Entity Planning
Forming your business entity at Voyant Legal is not one size fits all. If you wanted something generic, you could use a document drafting service or online legal services and document creation website, but we wouldn’t recommend that.
Before we form your entity, we get to know you. We want to know what’s important to you, what your business is going to do in the world and what your exit strategy is. We ask you questions that will inform the tax structure of your entity, how you own the entity and what happens to your business entity when you pass on (or you pass the company on to a new owner). We ask you questions and then discuss your options so you know you are making informed decisions about:
- Where to form your entity (Nevada, Delaware, Wyoming or your own home state are all options);
- What type of entity to form (LLC, S-Corporation, LLC taxed as an S-Corporation, Partnership, or C-Corporation are the most likely options we will consider);
- How to set up your bank accounts;
- How much and what type of insurance you need;
- Which agreements you need immediately (and which can wait);
- Which intellectual property to protect (and whether to own it in a separate entity from your operating assets);
- How to work with your CPA to maximize tax savings and more.
We see the formation of your business entity as just the beginning of a long-term relationship in which we can become the trusted counselor you turn to for help with all of your business decisions.
Think about it this way – Warren Buffett doesn’t just turn to Charlie Munger (his personal business lawyer) for help incorporating his business entities, he turns to Charlie before entering into any business deal that will impact the bottom line. That’s the type of relationship we have with our clients.
Creating an LLC
“The entrepreneur has unlimited liability for any debts that arise. Say you have no entity in place and are sued for any reason. If you don’t have an LLC, then you are personally on the hook for that.” – US News
Need we say more? For many businesses, LLC creation is one of the first and most important steps to be taken. At Voyant Legal, we take the guesswork out of LLC formation and walk you through the process, ensuring that you are not held personally liable if the unthinkable happens, and your business is sued.
Regular Updating
Through Our Regular Updating Programs, We Take Care of All the Little Details, So You Can Stay Creative and Expansive.
At most business planning law firms the relationship ends when you sign your incorporation documents. At Voyant Legal we see the signing of your incorporation documents as the beginning of our relationship with your business.
Over time, your business will change and grow; your ownership structure may change; we know for sure that the law will change. Your business documents must accommodate all of these changes in order to make sure your business is on track for growth and continued success.
If your business does not have annual meetings, maintain meeting minutes, have agreements, and your business plan is not properly updated and maintained over time, your legal documents become worthless… worth no more than the paper they were printed on.
And the costs of failing to update your legal documents regularly are typically far greater than the costs of keeping everything current.
For more information about our unique programs, please contact us at 801-951-0500 -or- by email at [email protected]
Once your business entity is incorporated and online with agreements, insurance, intellectual property planned for and protected, and financial systems filling the coffers, we shift the conversation away from set up to the all important exit.
It’s not the first time we will have discussed it, as all of our business legal services are built around your eventual exit plan. For example, selling the business at a certain point or operating it until death, then passing it on. It will be an ongoing conversation throughout the life of your business – what can we do today to ensure that your business can and will continue to serve your particular brand of goodness when you are on vacation, taking a health break, after it’s sold or when you pass it on to loved ones after you are gone.
Schedule Your Consultation with one of our attorneys now.
Business Succession Planning
How We Guide You to Leave a Legacy That’s About Much More Than Just Your Money
After you are gone, your loved ones (family, partner, clients, vendors, and others) will miss you deeply. They are much more than just your beneficiaries. You will either leave them with a legacy that is meaningful, easy to manage (or cash out), and can keep supporting them, or you will leave them with a mess.
As an entrepreneur, especially in Utah, this may be the most significant issue you can think about when it comes to the wellbeing of all that matters most to you – your work and your family.
And yet, time and time again, this issue is overlooked by business lawyers serving their business owner clients.
Not here.
Once your business entity is incorporated and online with agreements, insurance, intellectual property planned for and protected, and financial systems filling the coffers, we shift the conversation away from set up to the all important exit.
It’s not the first time we will have discussed it, as all of our business legal services are built around your eventual exit plan. For example, selling the business at a certain point or operating it until death, then passing it on. It will be an ongoing conversation throughout the life of your business – what can we do today to ensure that your business can and will continue to serve your particular brand of goodness when you are on vacation, taking a health break, after it’s sold or when you pass it on to loved ones after you are gone.
Schedule Your Consultation with one of our attorneys now.
Legal Business Agreements & Deals
Incorporating Your Business Entity is Just the Very Beginning – We Help Your Business Grow
You probably haven’t thought of your business like this, but really it is a series of agreements. Agreements with investors or lenders, clients and vendors, employees and independent contractors, partners and customers; the success of your business depends on your ability to make agreements and seal the deal.
This is where most business owners struggle and we can help. We love to create clear agreements that help you set boundaries and manage expectations. We know that the future of your business hinges on it. That’s why we won’t simply incorporate your business and send you on your way. Nope, every engagement with us begins with either a review of your current
agreements; investor and lender agreements, operating agreements, employee agreements, etc. If you don’t have any, we will proceed with the creation of the core agreements that are vital to your business success.
We use an innovative agreement process that gets all parties on the same page and leads only to triple win situations – that means that an agreement must be a win for you, the other party and the situation as a whole.
We understand that it’s your upfront agreements (and your/our ability to renegotiate those agreements) that will keep you in the flow of business and out of the crunch of conflict.
Tax Strategy
Tax Strategy Saves You Big Bucks
When your tax situation is structured right, you could be paying less than 10% of your income in taxes. Yes, less than 10%. Or, you could pay as much as 50% of your income in taxes.
Strategic planning makes the difference.
While we are not tax advisors this is another one of those things, we will support you with by ensuring you are meeting regularly with your CPA (we will even meet with your CPA and you as needed), and that you understand the tax strategies that are being recommended so you are able to make decisions about complex issues.
You can look to us to make money saving tax strategies easy to understand and, most importantly, easy to act on.