Video

  • 8 minutes

Counseling Members of Existing Single-Member LLCs

 

Gain an understanding of whether you should keep a single-member LLC.

Should I Keep My Single-Member LLC? The answer to this common question comes with a few other questions for the member of the single-member LLC. Why did you organize a single-member LLC? What are the current benefits it is giving your business? What are the current costs? Are the benefits more valuable to you than the money you’re paying to cover the costs? If the answers to the above questions indicate that the costs outweigh the benefits, or there really wasn’t ever a persuasive reason for forming the LLC, the member should decide between dissolution and conversion. This video reviews keeping and converting single-member LLCs.

Runtime: 7 minutes

Agenda

Faculty

Noel R. Bagwell, III, Esq.

Noel R. Bagwell, III, Esq.

Counsel & Clarity

  • Operates Counsel & Clarity™ a brand encompassing his law firm and resilient leadership coaching practice in Middle Tennessee, near Nashville
  • Is a partner in Industria Business Lawyers, a distributed firm based in Washington, D.C., where he serves as the Director of the Fractional Chief Legal Officer Practice Group
  • Has won numerous awards, including the Tennessee Supreme Court’s Attorney for Justice award for his pro bono work with veteran entrepreneurs, as well as the Clarksville, TN Mayor’s Certificate (2019) for his contributions to the business community in that city, which, in 2019, Money magazine named the Best Place to Live in America
  • Exclusively works with business clients to transform their legal support from a cost center to a profit engine, through Counsel & Clarity’s Fractional Chief Legal Officer service offering, Profit from Legal™
  • Author of several books, including Lead Again: A Modern Guide to Resilience (2024), God in the Machine: Exploring Faith in a Simulated Universe (2024), How to Structure Your Business for Success (2020). He’s also produced and hosted two podcasts — The Honest Lawyer Podcast and the Profit from Legal Podcast; and he is a prolific author of print and electronic articles for the Nashville Bar Journal, the Counsel & Clarity blog, and various other outlets.
  • J.D. Degree, Cumberland School of Law at Samford University; Scholar of Merit: Economic Analysis of Law; B.A. Degree in Philosophy, minor in international studies, Austin Peay State University
  • Can be contacted at (931) 249-2015 and [email protected], on LinkedIn: https://www.linkedin.com/in/nbagwell3/; LinkedIn Group: https://www.linkedin.com/company/counsel-and-clarity/; Facebook: https://www.facebook.com/counselandclarity/

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