Conversion to LLP (Section 65): Existing partnerships can convert to LLP maintaining continuity. Procedure: Member approval, filing conversion form, obtaining incorporation certificate. Benefits: Limited liability protection, separate legal entity, simplified structure. Liabilities: Pre-conversion debts remain LLP responsibility; creditors retain rights. Tax continuity: Conversion does not create taxable event if meets conditions. For accountants, conversion structuring critical for liability protection planning and tax efficiency.