Can I process h1 i140 and later change status to L2

I got my H1b approved and soon i140 will be filed where I will add husband and kid as dependent. Now my husband’s L1 is in process and no decision yet.

  1. is it okay if I process his h4 dependent , does that have any impact on his L1 processing.
    2)suppose he travels in his L1 and I get my i140 approved and file i485 meanwhile if he plans for i140 (as he is eligible for EB1), can I get added as his dependent in this process. Then what will happen with my submission .

Do you mean his H4 extension of status application is applied in parallel to his change of status from H4 to L1. Where is he right now , US or India. If in US is he already on H4 status?
You need to be specific and clear about your question.

Both of you can have your own I-140 and apply for I-485 listing each other as dependents on the primary applicant. When your priority date is current, you will need to withdraw the other I-485 based on which one you choose to be processed. In your case as your husband is eligible for EB1, possibly you will choose EB1 I-485 to be processed as that will give you green card faster.