This Plan of Dissolution of a Law Firm covers covers all necessary topics for the dissolution of the firm. Included are: Plan of dissolution, liquidation objectives, surrender of leasehold estates, estimated balance sheet items, termination of personnel, accounts receivable billing and collecting, cash management, professional liability, and indemnity issues.
Michigan Dissolving a Law Firm
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Multi-State
Control #:
US-L07054
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Dissolve a Company in 8 Easy Steps Create an exit strategy. ... File articles of dissolution with the state. ... Cancel documents relevant to your business. ... Follow all employment laws. ... Terminate any retirement plans. ... Fulfill any financial obligations. ... File final business taxes. ... Keep appropriate records.
A plan to dissolve a Michigan for-profit corporation. This document can be used as a standalone plan or incorporated into board or shareholders' resolutions. This Standard Document has integrated notes with important explanations and drafting and negotiating tips.
Michigan corporations that have commenced business: To dissolve your Michigan corporation that has commenced business, file Form 531, Certificate of Dissolution with the Michigan Department of Licensing and Regulatory Affairs (LARA).
6 Steps to Dissolve a Corporation #1 ? Seek Approval from the Board of Directors and Shareholders. First, hold a meeting with the board of directors. ... #2 ? File Articles of Dissolution. ... #3 ? Finalize Taxes. ... #4 ? Notify Creditors. ... #5 ? Liquidate and Distribute Assets. ... #6 ? Wrap Up Operations.
The first is voluntary dissolution, which is an elective decision to dissolve the entity. A second is involuntary dissolution, which occurs upon the happening of statute-specific events such as a failure to pay taxes. Last, a corporation may be dissolved judicially, either by shareholder or creditor lawsuit.
To dissolve your LLC in Michigan, submit a completed Michigan Certificate of Dissolution form to the Department Licensing and Regulatory Affairs (LARA) by mail or in person. The form cannot be filed online. Use of LARA forms is optional.
Dissolution. The first step to closing up shop is receiving shareholder approval to formally close the corporation. The board of directors should adopt a resolution to dissolve the corporation and receive approval for the action.
Business entities doing or transacting business in California or registered with the California Secretary of State (SOS ) can dissolve, surrender, or cancel when they cease operations in California and need to terminate their legal existence here.