Recognizing and Avoiding Common LLC Pitfalls (Retired)

$0.00

This course will cover common misconceptions and mistakes that occur in the limited liability company (LLC) context.  These materials are intended to assist you in identifying potential problem points as early as possible and controlling for them on the front end so that you and your clients will not need to expend precious resources later in drawn-out, contentious member disputes.

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Retired LawPracticeCLE courses are available for informational purposes only. For these courses, accreditation will not be sought, attendance will be not be reported and certificates will not be provided.

After the 18-month “available” shelf life, courses are retired and can be viewed for information only.

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Event Details

Course Type

Course Instructor

Ryen Rasmus, Esq.

Original Date Of Course

General Credits

0

Course Description

This course will cover common misconceptions and mistakes that occur in the limited liability company (LLC) context.  These materials are intended to assist you in identifying potential problem points as early as possible and controlling for them on the front end so that you and your clients will not need to expend precious resources later in drawn-out, contentious member disputes.

Principles

  • Contrasting between LLC’s and other types of business entity
  • Common mistakes made in setting up an LLC
  • Tax, real estate, and mergers and acquisitions issues
  • The importance of a sound operating agreement
  • Navigating member disputes

Syllabus

  1. Introduction
  2. Initial Considerations in Forming an LLC
    • Key differences between LLC’s, corporations, partnerships, and sole proprietorships
    • Single-member v. multi-member companies
    • Manager-managed vs. member-managed LLC’s
    • Series LLC’s and the risks associated with them
  3. Tax considerations
  4. Privacy advantages
    • Use in real estate transactions
    • Use in mergers and acquisitions
  5. When not to use an LLC
  6. Drafting a sound operating agreement
  7. Issuing, managing, and redeeming member interests
  8. Asset protection and succession planning
  9. Dispute resolution and dissolution

Instructor

Ryen Rasmus, Esq.