An operating agreement is a set of documents which provides the rules and guidelines for the operation of a limited liability company.
What is this?
Many states require an LLC to have an operating agreement, which contains information like the structure, management, rights, powers, and interests. The operating agreement helps to prove the business is separate from the person and is the most important part in maintaining legal protection. Most importantly, the operating agreement acts as just that, an agreement between members for the operation of the company.
Customizable options for everyone:
- Operating Agreements can be customized to meet your individual needs and business type
- LLC ownership can be assigned to individuals, another entity, or a living trust, depending on the best structure for your situation
- LLCs can be taxed as a partnership, C- or S-Corporation, or disregarded to the owner
Why Trust Anderson For Your Business Structuring Needs?
Comprehensive Assessment Tailored To You
The wrong setup of your business now could mean more taxes and liability later. That’s where we’re really different. We take a comprehensive look at your situation not only from a legal asset protection perspective but also from a tax savings and financial planning perspective.
Experience You Can Trust
Unlike other law firms, our consultants consist of attorneys and planners who travel nationwide to speak at conferences and seminars on subject matters concerning asset protection, taxes and business planning. Since 1993, we have taught tens of thousands of people how to make better business decisions and properly prepare to meet their goals.
Take a look at these actual client stories to see how much of a difference an Anderson plan can make.
We set up a Nevada LLC for a client with significant savings. She was sued 3 years later for an environmental claim stemming from property she owned over 30 years before. Plaintiff wanted over $2 million in damages for the cleanup. After we disclosed that her assets were protected by a Nevada LLC and a HELOC on her residence Plaintiff accepted less than $100k in a settlement.
A bank wanted to pursue one of our clients for a deficiency judgement ($5.5 million) for commercial real estate he lost in foreclosure. Once the bank found out how we protected all of our clients remaining assets with LLCs and a Nevada holding LLC the bank’s attorney stated “we decline to seek a deficiency judgment given the complicated structure you have weaved for yourself”.
Our client purchased property in a LLC and it was later discovered the soil beneath the property was contaminated. The state sued the LLC to clean up the land. Client walked away from the property without any personal liability. Without the LLC he would have been on the hook for over $1 million.
Your Custom Entity Blueprint
Speak with an Anderson Professional Advisor to get your business planning blueprint to determine the best entity structure plan for you and your unique situation.