New Mom & Pop IT Security Services Business

[Irishii]

What is the name of your state (only U.S. law)? MO

After 30 years in the business, we're thinking of retiring from corporate life and opening up a small IT consulting firm (LLC?). For now, no additional employees or external funds would be used. How do we protect our current assets -- home, property, 401k, pension -- and what type of insurance is needed? Is it necessary to hire a lawyer to form a LLC?

 

[single317dad]

Creation of an LLC is handled through the Missouri Secretary of State, and is a simple, straightforward process:

http://www.sos.mo.gov/business/corporations/forms.asp

http://www.sos.mo.gov/business/corporations/forms.asp

As far as protecting your assets, the more you stand to lose, the more valuable an attorney's guidance will be to you. Only you can decide whether the risks outweigh the rewards.

 

[LdiJ]

What is the name of your state (only U.S. law)? MO

After 30 years in the business, we're thinking of retiring from corporate life and opening up a small IT consulting firm (LLC?). For now, no additional employees or external funds would be used. How do we protect our current assets -- home, property, 401k, pension -- and what type of insurance is needed? Is it necessary to hire a lawyer to form a LLC?

To be honest, the very best way to protect yourself is to have good business liability insurance.