Archived
How do i go about getting out of a LLC I started w/ a business partner that refuses to dissolve the company?
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Answered on July 08, 2017
When you go see your attorney, make sure they are using the new LLC act that went into effect July 1. One of the things that dropped out of the act...
Why would I want a business entity such as an LLC over a sole proprietorship as an advisor.
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Answered on June 26, 2017
If you are talking personal liability for just your own actions - generally no difference. You are always responsible for your own negligence/wrong...
What is a good organizational structure for a single member LLC subsidiary and can it be managed by the members of the parent?
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Answered on June 20, 2017
Yes members can be managers of multiple LLCs. As to liability, a person is always responsible for their own wrongdoing personally (e.g. run a stop...
Archived
What kind of attorney can draw up a real estate limited partnership contract for an acquisition.
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Answered on June 14, 2017
Sounds like you have a series LLC registered with the state. But as you are asking this sort of question I wonder if the series has been treated...
Archived
If a contract says that it will terminate if one side files bankruptcy, is that generally enforceable in a later bankruptcy?
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Answered on May 31, 2017
You can probably stop performing under your contract for non-payment/performance as well I assume and not just in case of bankruptcy - but now that...
Archived
I have 10 rental properties, I was wonder what format is best consider less paper work and
better protection ?
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Answered on April 25, 2017
Separate LLC's provide the best protection usually (LLCA with 5 properties is questionable - one can take down the other 4). Why not a Series LLC?...
How do you merge a Florida LLC into a new Ilinois LLC?
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Answered on April 18, 2017
First, you could just continue running the FL LLC and register as a foreign LLC. Simple and the only extra expense is your Florida annual filing....
Archived
Should my company issue new shares for additional contributions?
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Answered on April 11, 2017
Generally, yes you can do it either way. Assume you want to reduce your paid in capital in order to reduce your franchise tax with the state. Not a...
Archived
Can I setup an LLC (or a separate series within a series LLC) to receive real estate compensation from a sponsoring broker?
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Answered on April 07, 2017
This just came up a couple days ago. Another attorney said he got a letter from IDFPR saying it was permissible to use an LLC. But they can easily...
Archived
Need assistance with reviewing documents for an IL LLC.
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Answered on March 02, 2017
It is generally less expensive for the attorney to use their template as a starting point for drafting an operating agreement. Further, if this is...
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