How To Avoid Mistakes With LLC Formation

Forming a limited liability company (LLC) can be hugely beneficial for those who need to defer personal liability from lawsuits and losses, as well as those who need greater agility in terms of the structuring and design.

While the formation of an LLC appears simple, many of those who wish to start a business make serious mistakes in formation. Many think that if they follow the articles of organization, their work is done. Actually it is essential to draft an operating agreement that defines the operations at a macro level — even with a single member. This is the primary document that will govern:

  • Meetings
  • Checks
  • Party interaction
  • Voting
  • Members
    • Regular members
    • Nonvoting members
  • Managers
  • Removal of members/managers
  • Death of members

Failure to address all of these issues can expose members to significant liability and compromise the long-term operational well-being of a business. As such, it is critical to partner with an experienced attorney to tailor your information and documents to your needs.

Personal Attention And Attention To Detail

Attorney Craig Lerman at Lerman Law Associates, P.C., has more than a decade of business law experience, plus a master's degree in business administration. He brings a comprehensive knowledge of business operation to all formation issues. He will partner directly with you to understand your goals. From there he will help draft an operating agreement delineating all necessary contractual additions.

It is important to realize that LLCs are often an ideal choice for small-business organizations, particularly those with real estate interests. They also offer tax flexibility.

In the event that an LLC is not your best option for forming your business, Mr. Lerman will make suitable suggestions otherwise and help you keep your long-term business excellence in mind.

How To Contact Lerman Law Associates, P.C.

Attorney Craig Lerman prides himself on building long-term relationships with clients. After assisting you in the LLC process, he can help you resolve your ongoing legal needs. For a free initial consultation regarding the formation of your new business, contact the firm online or call 678-888-5773 or 866-717-0393.