Legal Question in Business Law in Florida

How to convert a consulting business into a law firm

Heller owns all outstanding shares of Sub-Chapter S corporation -- Heller Management Consultants. He operates under two separate trade names (Heller d/b/a Seabay Management Consultants and Harry d/b/a Sarkey & Sarkey). To finance the purchase of companies, let's say that Harry owes the bank $100,000 to be paid over 7 years. In September of 2003, Harry is licensed to practice law in Florida. 1. What are his options in converting the Sub-Chapter ''S'' corporation to a law practice? 2. Can he remain a Sub ''S'' and simply begin practicing law within the framework of existing corporation? 3. What if any consequences would the outstanding loan have on the conversion of this business?

Thank you.


Asked on 3/09/02, 6:26 pm

1 Answer from Attorneys
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: How to convert a consulting business into a law firm

I don't recommend trying to mix apples and oranges. A sub-s corp for a law firm is a professional association, which is different than the existing entity. You should start a new entity that has no skeletons in its closet and no history of non-legal related activities under which to do business as a law firm. Indeed, you may run into problems with the Florida Bar unless you do it as suggested herein.

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Answered on 3/10/02, 9:38 pm


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