Closing Your Business in 2025? LegalMatch Explains Why You Need a "Plan of Liquidation"

Tue, 09 Dec 2025 12:00:00 +0000
Press Releases

*Expert Legal Guidance for Corporate Dissolution: Managing Creditor Notices, Tax Clearance, and Asset Liquidation*

*RENO, NV / ACCESS Newswire / December 9, 2025 / *With the fiscal year coming to a close, many businesses will grapple with the decision to stay open or to close permanently. Those who close permanently will typically focus on selling off inventory and vacating the premises. However, LegalMatch.com states the most important thing to remember is proper compliance with the state "winding down" statutes. This is the orderly legal framework for dissolution and liquidation of a company, which varies by state.

According to LegalMatch.com, the largest online attorney-client matching service in the United States, closing down a business is a legal process, and business owners who believe they can just stop opening the doors may become personally liable for the debts of the corporation if they lack attorney guidance.

Attorneys do more than just file the final paperwork; they strategically guide the business owner away from costly pitfalls, including:

· *Setting up a Priority of Payment:* Lawyers will know the correct order of debt payment and how to avoid owner liability.

· *Drafting the Notice to Creditors:* Lawyers understand not only how to draft and publish the legally-required Notice to Creditors, but also how to protect business owners from being sued by unknown creditors.

· *Tax Clearance Certificates:* Before a business can close, the business must obtain a certificate from the government that shows the business has no back taxes owed.

· *Negotiating "Pennies on the Dollar" Settlements:* An attorney can negotiate with creditors on behalf of a dissolving business entity, possibly securing a payoff amount that is less than the debt owed and helping to clear that debt so the business can close with a clean slate.

"Unfortunately, you cannot simply lock the door and walk away. An attorney ensures that when you close the book on your business, it stays closed, and you don't have any unexpected surprises as you recoup from a business closure," says Ken LaMance, LegalMatch's General Counsel.

A business that needs to dissolve an LLC or Corporation before the end of the year can visit LegalMatch.com. Users can submit their case details to the confidential platform, receive free attorney matching with bankruptcy attorneys familiar with corporate "wind downs," and choose which attorney is the best fit for their situation.

LegalMatch also promotes an extensive Online Law Library filled with informative articles and FAQs on various legal topics, including filing for Chapter 11 and bankruptcy law. Be sure to reach out to LegalMatch today to ensure a seamless business closure.

*About LegalMatch.com*

LegalMatch is the nation's oldest and largest online legal lead-generation service. Headquartered in Reno, Nevada, LegalMatch helps people find the right lawyer and helps attorneys find new clients. LegalMatch's service is free to individuals and small businesses looking for legal help. For more information about LegalMatch, please visit our website or contact us directly.

Media Contact
Ken LaMance
press@legalmatch.com
(415) 946-0856

*SOURCE:* LegalMatch.com
View the original press release on ACCESS Newswire