Legal Question in Business Law in Arizona

Re: new business

Thank you for your question. We need more details to fully advise you than we are given. I advise a consultation with an attorney. There will be issues raised that you may not have thought of.

Some of the information that I would ask in such a conference might be:

Are you married?

Do you have an estate plan, and what does it consist of?

Are you the sole owner?

What contract, trade name, licensing, employee contract, business organization, etc. issues apply to your business? Are you a franchised business? Do you use web sites? Are you concerned with asset protection? (The sole proprietorship method does not give protections really.) What about insurance issues? Will there be vehicles? Will employees drive or do errands in your vehicles or their own?

We offer free initial consultations by calling for an appointment in Arizona 480.835.1500.

Good luck in your business,

James D. Jenkins

Re: new business

If you are a sole proprietor, your personal assets are vulnerable to any creditor's claim. You should incorporate or form an LLC to protect your personal assets and limit liability arising out of the business. Consult with your tax advisor which entity you should form that is the most advantageous to you.