SCORE Vs. Lawyer

AlphaCon · 02-25-2008, 01:43 AM

For trying to decide on what LLC vs Corp and Texas Vs other state to do it in, would I get more out of paying a lawyer then to get help from SCORE?

BusinessAdviser · 02-25-2008, 01:53 AM

You don't need to pay an attorney for an initial consultation. There are plenty of attorneys out there who offer a free consultation. If you call one that doesn't, pick the phone back up and call another. They'll likely listen to your situation, plans, goals, etc. and give you their advice as to where and how to create your business entity. Why will they do this for free? Because they hope that in providing you this information, they will impress you with their knowledge and entice you to use their services for the actual entity creation. That, though, is a separate decision. The point here is that I advise finding an attorney for a free consultation first.

AlphaCon · 02-25-2008, 02:06 AM

Thanks...so to do that do I just start calling up attorneys and ask if they offer consultations?

BusinessAdviser · 02-25-2008, 03:41 AM

You'll likely also need to explain the reason for your desire to speak with the attorney, which is your plan to start a business, but yep, you've got it.

GuyBBY · 02-25-2008, 09:15 AM

AlphaCon,

Hi. I used both. Jmeq is correct, and at the same time I went to SCORE with an issue and they were able to refer me someone within their Chapter that had experience with my situation. If you can get in touch with a lawyer then do that first and foremost, but SCORE is very reliable and usually can point you in the best direction with your issue.

Best

G

2gould · 02-26-2008, 04:39 PM

I would be hesitant to pick an attorney based upon whether or not he gives a free consultation. Unfortunately, even in the legal industry, you offen get what you pay for.

Instead I would get a couple of referals, call them and explain your situation. Often times the lawyer will either reduce his fee or he might even provide some advice free as a courtesy to the refering party. However, this is the start and foundation of your business, I would not go for free; rather, go for competence and try to work out an initial discount.

Just my two cents.

BusinessAdviser · 02-26-2008, 06:14 PM

For something as simple as entity selection, I wouldn't hesitate to consult an attorney for free.

usakos · 02-26-2008, 07:31 PM

Hey, when forming a corporation or organizing an LLC, the lawyer can only give you the legal point of views of how to incorporate or organize an entity, but if you really want to know the benefits of what each entity can offer you, you don't need to talk to a lawyer, but a CPA, certified public accountant.

A CPA will tell you everything you need in regard to tax implications and benefits, things that lawyers have no clue with. First, talk to a CPA, then a lawyer, a CPA will give you the ins-and-outs of the tax benefits, a lawyer will give you the ins-and-outs of the formation and legal protections.

usakos · 02-26-2008, 07:35 PM

oh, i forgot to answer, SCORE is even better because it's free, and they have a network of retired professionals and managers around the country. So, if you are in one state and trying to figure out forming an entity in another state, you may be better of talking to SCORE, because they are free and can contact other chapters in other states if they want to know laws and tax laws in different states, rather than trying to find a lawyer who's bared to practice law in different states you want to know.