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BUSINESSCONVERSION

When would I need a Business Conversion?

The need for either of these types of conversion can arise for a number of reasons. The entity might have been formed originally in a state that does not offer the level of asset protection the owner needs.

The business might not be the correct entity type for the business type. Or, the business might be relocating and, therefore, needs to be filed in the new state where it will be operating.

A Business Conversion process usually involves:

Filing a conversion document for the entity type in the state of formation, or;

Filing a conversion document in the new state of operation, then dissolving the entity in the original state of formation.

Paying the fee associated with the document(s) being filed with each state.

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The Anderson Advantage

Preserve

Individualized tax planning to help you keep as much of your money in your pocket as possible.

Protect

Asset protection strategies and solutions to shield your assets and limit personal liability.

Prosper

Retirement and financial planning and wealth management strategies to maximize what you already have.

ANDERSONADVISORS

Why Trust Anderson For Your Business Structuring Needs?

01

Comprehensive Strategies
Tailored To You

The wrong setup of your business now could mean more taxes and liability later. That’s where we’re really different. We take a comprehensive look at your situation not only from a legal asset protection perspective but also from a tax savings and financial planning perspective.

02

Experience You
Can Trust

Unlike other law firms, our consultants consist of attorneys and planners who travel nationwide to speak at conferences and seminars on subject matters concerning asset protection, taxes and business planning. Since 1993, we have taught tens of thousands of people how to make better business decisions and properly prepare to meet their goals.

CLIENTVOICES

Take a look at these actual client stories to see how much of a difference an Anderson plan can make.

$2 million lawsuit reduced to $100,000 settlement“

We set up a Nevada LLC for a client with significant savings. She was sued 3 years later for an environmental claim stemming from property she owned over 30 years before. Plaintiff wanted over $2 million in damages for the cleanup. After we disclosed that her assets were protected by a Nevada LLC and a HELOC on her residence Plaintiff accepted less than $100k in a settlement.

Avoided $5.5 million judgement

A bank wanted to pursue one of our clients for a deficiency judgement ($5.5 million) for commercial real estate he lost in foreclosure. Once the bank found out how we protected all of our clients remaining assets with LLCs and a Nevada holding LLC the bank’s attorney stated “we decline to seek a deficiency judgment given the complicated structure you have weaved for yourself.”

$1 Million in personal liability avoided

Our client purchased property in a LLC and it was later discovered the soil beneath the property was contaminated. The state sued the LLC to clean up the land. Client walked away from the property without any personal liability. Without the LLC he would have been on the hook for over $1 million.

Your Custom Entity Blueprint

Speak with an Anderson Professional Advisor to get your business planning blueprint to determine the best entity structure plan for you and your unique situation.

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