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Are you interested in establishing and operating your own small business? The Law Office of Trevor B. Eldredge can provide all the necessary services needed to ensure your potential business is both legally compliant, and well primed for optimal success. Located in Kaysville Utah, we are well versed on the legalities and local ordinances pertaining to business development. This allows us to work for you, and with you, to cultivate a successful game plan for your business; all while prioritizing each client’s unique vision. We understand the reasons behind starting your own business are of the utmost importance to you, which is precisely why we work diligently to answer to your questions and concerns as soon as they arise.
The legalities surrounding business ventures can, understandably, be overwhelming. We will make certain that you are both well informed, and well represented, during every step of your venture. Whether it’s assistance in setting up your business formation plan, or creating a non-disclosure agreement, the Law Office of Trevor B. Eldredge has you covered. Our team of highly competent attorneys are ready to assist you today. |
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Areas of Practice
Business Formation |
Corporations |
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Business formation is a crucial first step in the developmental process, designed to help entrepreneurs understand the nuances surrounding the successful launching of a business. We guide you through these beginning stages of expansion by providing you with relevant information regarding record keeping, taxation, and other necessary components that are pivotal to getting started.
LLC'sLimited Liability Companies are not recognized under US federal law as corporations; rather, they’re typically categorized as a hybrid of sorts. This occurs due to the merging of characteristics present in both corporations and partnerships/sole proprietorships. We’ll outline and further explain the functionality of LLC’s and the nuances of operating as an LLC in each of the 50 states, but particularly in the state of Utah. From there, we can advise you on how to proceed with licensure in any of the 50 states.
Sole ProprietorshipIf company ownership falls under one individual, that individual is recognized as a sole proprietor. We’ll take you through the step by step process of solidifying yourself as a sole proprietor, and how this relates to the functionality of your business.
Non-Profit Corporations/Foundations:You’ve probably encountered a non-profit foundation or corporation before, as they’re present all across the United States. While there are certain operational similarities between for-profit and non-profit businesses, we’ll clarify the main differences. Perhaps the most significant of which is that most non-profits are exempt from taxation. We will thoroughly explain the key differences between for and non-profit foundations, and subsequently advise you on how your business should be categorized.
Gun TrustsGun trusts are put in place to ensure the transition of a firearm’s ownership is performed in a completely legal and safe manner. If you find yourself in unauthorized possession of a firearm, you are committing a serious offense. Gun laws vary significantly based on where you’re located. As a result, it is crucial to be cognizant of the laws and ordinances in your specific locale to avoid any potential criminal charges. Gun laws vary rather significantly depending on local laws and ordinances. We’ll ensure you are always in legal compliance with Utah state law in the event you wish to have a gun trust crafted.
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A successful independent business venture may potentially evolve into a larger network. We can provide you with the necessary representation required to navigate that transition, if and when the opportunity arises. Corporations often have different legal requirements in regards to how they operate; we’ll outline how they differentiate.
Estate PlanningEstate planning typically serves as an umbrella term for a variety of different initiatives. Moreover, getting your legal affairs in order is recommended as it can drastically simplify various legal proceedings for your loved ones in the event of your passing. Wills and trusts can allow you to funnel your assets to various recipients, within certain parameters. Additionally, you can set the precedent for desired medical treatment in the event you are unable to authorize it due to a state of incapacitation. Estate planning can significantly ease stress surrounding these layered issues. We can help you navigate the specific nuances of estate planning in Utah.
PartnershipsLegal partnerships are omnipresent in the world of business, and are almost always certified and authenticated by written documentation. We’ll offer guidance in the art of bridging successful partnerships, that allow for profits and assets to be equitably divided amongst co-owners. If you choose to start your business venture with a partner, including any potential investors, it’s crucial to get a legally binding agreement to protect all parties involved. We can help get your partnership legally registered in the state of Utah.
Business Succession Planning:When phasing out of ownership and/or entering retirement, there are various things to consider if you are a business owner. You can count on us to create a thorough succession plan designed with your best interest in mind. This may include appraising your company’s value in the event you wish to sell, in addition to finding an adequate successor to overtake the operation. Much like starting a business, there’s a lot of legal work that goes into the liquidating process.
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Agreements
Buy/Sell Agreements: In the event of a partner’s departure from a company, a buy and sell agreement is a legally binding document that stipulates how that partner’s share will be reassigned and redistributed. In most cases, the shares will be sold to the remaining partner(s) in the business.
Asset Purchase and Sell Agreements: Certain buyers may not be interested in buying out the entirety of a business’ shareholdings. Rather, Asset Purchase Agreements (commonly abbreviated as APA’s) specify exactly what assets the buyer wishes to accrue.
Non-Compete Agreements: A non-compete agreement is a contract that prohibits an employee from entering another position with a competing business after their employment period ends. This contract also blocks the flow of any sensitive or revealing information that relates to the operations and innerworkings of their former employer.
Non-Disclosure Agreements: Non-Disclosure Agreements help protect confidential information by means of a legally binding document, typically issued between two parties. The specification of NDA’s will vary depending on various factors, but are typically in place to stop the spread of knowledge and information to unauthorized third parties.
Employment Agreements: Employment Agreements (or contracts) are usually signed agreements between an individual employee, and their employer. Employment contracts can outline vital information pertaining to wages, schedules, and various other contingencies of employment. As a business owner, these contracts can very often serve as protective shields in the event of a dispute.
Asset Purchase and Sell Agreements: Certain buyers may not be interested in buying out the entirety of a business’ shareholdings. Rather, Asset Purchase Agreements (commonly abbreviated as APA’s) specify exactly what assets the buyer wishes to accrue.
Non-Compete Agreements: A non-compete agreement is a contract that prohibits an employee from entering another position with a competing business after their employment period ends. This contract also blocks the flow of any sensitive or revealing information that relates to the operations and innerworkings of their former employer.
Non-Disclosure Agreements: Non-Disclosure Agreements help protect confidential information by means of a legally binding document, typically issued between two parties. The specification of NDA’s will vary depending on various factors, but are typically in place to stop the spread of knowledge and information to unauthorized third parties.
Employment Agreements: Employment Agreements (or contracts) are usually signed agreements between an individual employee, and their employer. Employment contracts can outline vital information pertaining to wages, schedules, and various other contingencies of employment. As a business owner, these contracts can very often serve as protective shields in the event of a dispute.
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Here at Eldredge law, we also cover: Personal Injury, Bankruptcy, Deeds, Private Secured Loan Documents, Probate of Estate, Real Estate. Buying & Selling Transactions.
It's a huge relief to have such a competent, ethical lawyer make sense out of LLC's and other random property and legal questions I throw at him. Lawyers and mechanics that you can actually trust are rare, so I count myself as fortunate to know Trevor."
Frequently Asked Questions
Where do I begin when it comes to starting a business in Utah?Once you’ve solidified the idea behind your business, it’s time to get involved with a reputable law firm. The Law Office of Trevor B. Eldredge will provide you with all the vital information as a jumping off point, particularly as it pertains to Utah state law. It’s important to work with credible attorneys, as any potential mishap could be fatal for a budding business. Allow us to shoulder the appropriate legwork, and get you into a space of complete legal compliance. Our reputable attorneys will ensure you are protected from any potential legal consequence.
What are the benefits of Estate Planning?Estate planning takes a lot of the guesswork out of asset distribution post mortem. The legal processes revolving around transfer of assets can often be confusing and tedious for those involved if there doesn’t exist a blueprint from which they reference. Estate planning allows for you to largely control how assets and wealth you’ve accrued are distributed following your passing. Planning in advance may also help your beneficiaries avoid the legal process of probate, which can be unpredictable and lengthy, and requires further legal third-party involvement. Certain types of trusts may further be beneficial for your specific needs. In essence, estate planning is a way for you to protect your assets and legacy in a legally compliant format.
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What are the key differences between a deed and a trust?A deed is a legal document that dictates, conveys and transfers ownership of property from one individual to another. A deed can encompass power of attorney, licenses, patents, conveyances, diplomas, or commissions. Typically, deeds will require the potential recipient to meet various recipients before the asset can be legally transferred. Trusts and deeds are similar in the respect that they both deal with the transferring of assets. Moreover, a trust will usually detail when and how the asset in question will be transmitted to the beneficiary. A trust can help protect your privacy, legacy and give you complete dominion over how your wealth will be dispersed in the event of your passing. Furthermore, we can explain the nuances and details surrounding deeds and trusts. The specifics will vary depending on various factors.
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Physical Address:
610 North 900 W Suite 114 Kaysville UT 84037 Mailing Address: PO Box 768 Kaysville, UT 84037 |
Phone:
801-296-2423 |
Email:
[email protected] |
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