What is a best way to include relative-foreigner as LLC member in CA without bothering him to sign formal papers.
2 attorney answers
It appears that you are confused.
A single-member does provide limited-liability protection (assuming that required formalities are addressed appropriately).
The "problem" withe single-member LLCs - one cited frequently by asset-protection geeks - is that if the member has personal liabilities, the member's LLC membership interest can be seized to satisfy the liabilities.
This information does not constitute legal advice and does not establish an attorney-client relationship.
You are making an assumption that I do not agree with - that a single member LLC does not providde liablity protection. Further your solution to create a non-voting class of equity is one of the more complicated means of accomplishing you goal. Finally, other than annual minutes, a member who is not a manager will have normally have nothing else to sign.
The above is general legal and business analysis. It is not "legal advise" but analysis, and different lawyers may analyse this matter differently, especially if there are additional facts not reflected in the question. I am not your attorney until retained by a written retainer agreement signed by both of us. I am only licensed in California. See also avvo.com terms and conditions item 9, incorporated as if it was reprinted here.
Thank you very much!
How very nice of you to say. You're welcome. Respectfully,
Sponsored Listings
Sponsored Listings
Can’t find what you’re looking for?
Post a free question on our public forum.
Ask a Question- or -
Search for lawyers by reviews and ratings.
Find a Lawyer
Thank you very much!