While forming a Limited Liability Company (LLC) is not a guarantee that the members will not be named in a lawsuit in their personal capacity, the LLC is a legal entity that provides liability protection to the members (assuming the LLC is properly formed and properly run). [ Read More… → ]

Transfer of ownership of an entity does not change or alter the entity itself. But there are a few pieces of the Limited Liability Company structure that should be examined when an LLC is sold. [ Read More… → ]

Of course, Limited Liability Companies are state-based constructs, so state law would apply to any answer.

Also at issue is the ability of a minor to enter into contracts or take other actions to bind the LLC, as many contracts entered into with minors and third parties are void or voidable.  A person who is under the age of majority may have insufficient legal ability to sign the Articles of Organization, thereby requiring an adult “organizer” to execute the Articles.

Let’s examine a specific state example. [ Read More… → ]

Corporations and LLCs do not necessarily have to disclose the names of people holding ownership interests in those entities within any public records. [ Read More… → ]

Merging two Limited Liability Companies from different states (one newly formed, no less) is typically not something Standard Legal would recommend as to be handled pro se. [ Read More… → ]

Whether or not foreigners or non-US citizen living in the USA and holding work-visas can create a Limited Liability Company or file for Corporation status depends upon the state involved. [ Read More… → ]

For the purposes for forming a general business Corporation or filing for Limited Liability Company (LLC) status, there are no requirements that a person be a resident of the state in which the company is to be formed.

But there is one requirement for most states that must be managed. [ Read More… → ]

The filing of the paperwork to form an LLC or to incorporate does not obligate the entity to immediately begin conducting business.

But as is typical, that doesn’t mean that there won’t be some government requirements for the formed business. [ Read More… → ]

If a Limited Liability Company (LLC) or Corporation is set up only to ‘hide assets’, a debtor could pursue legal action to pierce the corporate veil and seize the assets of the fraudulent LLC or Incorporation. [ Read More… → ]

Typically, an executive director or CEO can represent a corporation in day-to-day business functions. But the chief executive of a corporation or LLC cannot represent the corporation in a court of law, as legal counsel, or as part of a litigation. [ Read More… → ]

In just about every state, only one person needs to take the actions necessary to incorporate a business or to file for LLC status. But the requirements do differ by state. [ Read More… → ]

Your question seems to be seeking a suggestion on how to create and then structure pay from an LLC to minimize or avoid meeting an increase in child support obligations.  ‘Ask Standard Legal’ chooses not to reply to such a question — not only on principal, but also because it borders on a request for unethical legal advice specific to a highly personal situation. [ Read More… → ]

Limited Liability Company (LLC) filings are made with the Secretary of State, typically in just one state (the state in which the business chooses to register). One way to find the listed owners or members of an LLC is to review the filing in the state in which the business was originally registered. But such a review will not always provide the information desired. [ Read More… → ]

Nearly all states have laws permitting owners of an LLC or a Corporation to review the books and records of the company upon written demand to the other owners. [ Read More… → ]

Assets are transferred from one person or entity to another in different ways, depending upon the nature of the property. This distinction holds true when those assets are transferred between an individual and a newly formed Limited Liability Company or Corporation as well. [ Read More… → ]

Yes, a person can sell the real estate property he or she owns to anyone (or any entity) that can make the purchase. But there is a practical consideration that must be examined to be able to complete the transaction. [ Read More… → ]

Much of the ability of a government agency to easily seize or attach assets for issues like unpaid child support or unpaid taxes rests with the type of business structure created. [ Read More… → ]

In most cases (and in the case of Standard Legal’s documents), the Operating Agreement for the Limited Liability Company will normally spell out each member’s rights and responsibilities with regards to profits, losses, distribution and financial issues. [ Read More… → ]

Many states have a process by which a Limited Liability Company can be revived if it has been administratively dissolved or not maintained.

Each state’s procedures are different, and each state has a different time frame in which the reinstatement process must be completed. [ Read More… → ]

The members of an LLC are generally listed in the Company’s operating agreement, which is an internal company record that is not filed with any state agency.

In some states, the names of members are not required to be listed on the Articles of Organization that are filed with the state agency to form the LLC.

As such, in your particular state, the names of the members may not be required to be made public.

But not being ‘required’ to disclose the ownership information is different than ‘choosing not to’ disclose that information.  [ Read More… → ]