Change of Status

Change of Status refers to a significant shift in the condition or situation of an individual or organization that can affect their rights, responsibilities, or legal standing. In personal contexts, it often involves changes like marriage, divorce, or immigration status. For businesses, it may relate to changes in ownership, legal structure, or operational capacity. These changes can impact various aspects, including legal obligations, financial responsibilities, and eligibility for certain benefits or programs. Understanding and managing Change of Status is crucial to ensure compliance and to make informed decisions in response to new circumstances.