Corporation - Self VS Lawyer - Posted by Trish

Posted by William Bronchick on November 10, 2003 at 20:40:47:

Incorporating is not that difficult, IF you learn the process. I do a lot of corporations for clients, but I also instruct them on what to do on an annual basis. Each client gets my corporation manual.

I feel that many people are done a disservice by attorneys that set up the initial paperwork and don’t instruct their client how to keep up the annual paperwork. On the other hand, I feel that people who do it themselves without learning the ENTIRE process are also selling themselves short. Filing the articles of incorporation with the state is easy - doing the by laws, issuing stock, following formalities, etc requires a lot more than just filling out one form with the state.

Also, a person needs to consult with an atty and/or tax advisor before even considering the process to make certain a corporation is even the right vehicle. An LLC or LP may be more appropriate.

Corporation - Self VS Lawyer - Posted by Trish

Posted by Trish on November 10, 2003 at 16:38:12:

My husband and I are just beginning to get our feet wet in flipping properties. Would it be beneficial to start forming a corporation now or wait until we have a few deals in the pipeline? And besides costs, what are the pros and cons of forming a corporation through a lawyer versus doing it yourself? Is it really worth it to go through a lawyer?

Thanks for any comments and information!