Accepting In-Person and Virtual Appointments - Call us at: 973-662-4550

Business Formation, Dissolution & Succession Planning

Whether you're starting up or winding down or passing the business to the next generation, we can help.

Have a great business idea that you need to put into action?  Over the last few decades, startups have taken over, and they span all the industries, tech, health, consumer and retail, e-commerce, artificial intelligence, financial tech, supply chain, and more.  Getting your business off the ground is hard enough.  Understanding the laws and regulations that need to be followed can be the difference between a solid foundation for your business to grow upon or a rocky one from which your business may fail or at least stumble.

At R&R Legal Advisors, we want your business to grow.  We will help you get established with the best business structure for your idea while also meeting all your legal obligations to help you avoid future fines or potential lawsuits.  And the great news is, even if you've already started running your business, we can do a legal audit and work with you to create a strategic plan to address any current or potential issues found.

We do this by taking the time to get to know you and understand your vision and goals for the business.  We ask you the questions that you may not have known to ask so that you don't worry that you're missing something.  We use our own knowledge and experience as business owners as well as the wealth of knowledge and experience having known and served business owners for decades.

What's the best type of entity for my business?

There are many factors to consider when choosing the best structure for your business.  Here are some for your start thinking about.


A major deciding factor when structuring your business is often the degree of control you want to retain over your business.  This is especially true where multiple owners are involved.

A sole proprietorship allows for the fullest control.  As the only owner and operator, a sole proprietor can run their business how they want to.  in comparison, corporations are answerable to shareholders who elect a board or directors to manage the organization's day-to-day business.


Your business structure also determines the extent of your personal liability for the liabilities, debts, and obligations of the business.  Some structures offer better protection against personal liability.  However, liability and control are usually directly proportional.  The less your personal liability, the less control you typically exercise over the business. 

In a sole proprietorship, for example, the owner is personally responsible for the business's liabilities and debts.  Their personal assets may be used to satisfy the business's debts.  They can also be sued in relation to the business's activities. 

In comparison, in a limited partnership, partners have a separate legal identity from that of the business and their personal liability is limited to their investment in the business.


The structure of a business determines the applicable tax regime.  Many business structures – sole proprietorships, partnerships, limited liability companies, and S corporations – are pass-through entities.  This means that the business doesn't separately pay tax.  Instead, the tax liability is passed to the owners who pay taxes on the business profits via their personal tax returns. 

Other forms of incorporation, like C corporations, are treated as separate entities from their owners and taxed according to the relevant corporate rate. 


The degree of administration of a business typically becomes more onerous as the complexity of the business structure increases. 

Sole proprietorships and partnerships typically have the least complex paperwork, while corporations have strict reporting obligations and complex paperwork to file when forming and running the business. 

Ready to exit your business or pass the torch?

Few entrepreneurs begin planning their business with the end in mind despite the many many benefits if you do.  However, no matter when you start planning, know that there's usually more than one option and the sooner you plan, the more options you tend to have, such as selling the business, winding it down, or grooming a child to be your successor.

Succession planning is an often overlooked aspect of business ownership.  This is a problem because it creates unnecessary risks.  When key employees leave the business for whatever reason, the business can be detrimentally affected and go downhill quickly.  But with a succession plan in place, leadership remains intact and harm to the business can be avoided.

Contact Us Today

At R&R Legal Advisors, we can help you think through different exit strategies, so you can create the best succession plan for your business.  Contact us to see how we can help you keep your business successful regardless of any changes you face over the years.  

Contact Us Today

R&R Legal Advisors LLC is committed to answering your questions about General Business Law and Estate Planning issues in New York and New Jersey.

We offer a Free 30-minute appointment, and we'll gladly discuss your situation with you at your convenience. Contact us today to schedule an appointment.