LLC Legal Advice (596 found)

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Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

By "walk away" if you mean simply leave and file no paperwork or fail to...
Karen L Brady
Karen L Brady's answer
Contributor Level 4

From your question it appears you should definitely consult a lawyer so that...
Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

To add to the previous post, there could be significant tax consequences...
Question

Mark A. Jinkins
Mark A. Jinkins' answer
Contributor Level 4

Each state laws vary so the laws of the state that the LLC is organized under...
Glenn M. Lyon
Glenn M. Lyon's answer
Contributor Level 6

For a variety of reasons, but especially liability protection, you should form...
Carlos Gonzalez
Carlos Gonzalez's answer
Contributor Level 7

Forming some sort of corporation is uusally very beneficial in protecting your...
Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

If he had K1 prepared showing you as 50% owner he cannot change it unilaterally....
Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

I agree, fundamentally, with the first answer - especially the recommendation...
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User's answer
A limited liability company (LLC) is a legal business entity where owners have...
Question

Alexander Duie Pyle Latta
Alexander Duie Pyle Latta's answer
Contributor Level 4

What you're describing is a fairly common business arrangement. You may want...
Henry Daniel Lively
Henry Daniel Lively's answer
Contributor Level 7

The other attorneys have given you sound advice. Also note that a single owner...
Question

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Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

The operating agreement should have the answer to your question. There should...
Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

It depends on the operating agreement and any other agreements you have with...
Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

I agree with the first two answers, though I would like to add the following:...
Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

The house is at risk if there is a default by the LLC on the loan. Usually the...
Karen L Brady
Karen L Brady's answer
Contributor Level 4

I think you need to see a local business attorney who specializes in business...
Nick Passe
Nick Passe's answer
Contributor Level 4

Attorney Brady is correct, you might have a problem. Presumably the investor...
Question

Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

First, a bit of terminology: In an LLC, you are members, rather than partners....
Peter Robert Stone
Peter Robert Stone's answer
Contributor Level 7

When you formed the LLC did you have a lawyer? Did they have a lawyer? Is there...
Question

Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

It is not necessarily a per se breach of fiduciary duty to simply open a...
Warren Alan Kirshenbaum
Warren Alan Kirshenbaum's answer
Contributor Level 4

It's not necessarily a breach of his fiduciary duties to be working in, or...
Question

Andrew Daniel Myers
Andrew Daniel Myers' answer
Contributor Level 7

Did you set the LLC up properly? Did you capitalize the LLC properly? What...
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George Daniel Straggas' answer
Contributor Level 3

You should form the entity before you start to conduct any business. One of...
Pamela Koslyn
Pamela Koslyn's answer
Contributor Level 10

You should form the liabiity limiting entity as you start this business, and...
Question

Karen L Brady
Karen L Brady's answer
Contributor Level 4

There are a lot of variables in selling your LLC that can't be addressed in...
Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

To add to the previous response there are state specific legal issues that you...
Question

Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

Unfortunately, your quesiton presents the most likely source of answers, which...
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Denis C. Monahan's answer
Contributor Level 4

You need to get your question posted under divorce, not limited liability...

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