L1B to H1B Visa: Will L1B status cease to exist?

[onlineseek]

Hi,
I am currently on L1B visa and my I-94 is valid till May 2015. My company is applying H1B visa for me this April . Once I get my H1B visa in October, will my L1B status cease to exist ? Or will I continue to stay on L1 status until I get my H1B stamping by going to India ? My spouse is currently working on L2 EAD and hence I am concerned for my spouse visa status once my H1B is approved.

Any help for this query would be highly appreciated.

Thanks in advance.

[Rajkiran20]

Once you move to H1 visa and your wife will move to H4 and she cannot work until she gets H1B visa.

and your L1 will be void after effective of H1 in October

[binoca82]

If your H1 is approved with change of status, your L1 will become void on the start date in the approval notoce, hence L2 also. If you and your wife want to continue on L1/L2, you may ask your employer to process the H1 for consular processing. In consular processing, your status will not change to H1 until you enter US on H1 visa.
If your H1 is getting applied as COS, make sure that you apply L2 COS to H4 also, before your H1 becomes effective.