Bristol, TN asked in Business Formation and Business Law for Tennessee

Q: My general partner in our L.P. has recently died. How do I (limited partner) undergo converting to a sole proprietorship

My father (general partner) in our Limited Liability corporation has recently died and me (the limited partner) needs to convert the business to a sole proprietorship. What form can I access in order to undergo the conversion? If not, is a general partnership a better idea? Thank you.

1 Lawyer Answer
Anthony M. Avery
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  • Knoxville, TN
  • Licensed in Tennessee

A: No form is going to meet your objective, and you are confused about LPs and LLCs. Hire an attorney to examine the business and its assets, and then advise a course of action. Sole Proprietorship means you individually own it. It may be very simple, instead of a formal Dissolution.

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