LLC Legal Questions and Answers
What happens to a LLC when the sole member dies?
My husband recently passed away. He has an LLC business that I am trying to keep going but I was not made a member of the LLC before he passed. Can I form a new one under the same name or can I still become a member of his LLC without his signature?
11/19/2009 | Category: LLC | State: Michigan | #19696Can I Transfer Property I Own With My Husband to a LLC?
I have 8 rentals in two counties. The rentals are mine but over the years they have come into joint ownership with my husband. He is retired/62 and also gets a Service Connected Disability check. I feel I should have an LLC. I'm still working full time as a LPN with the local Veterans Hosp. Is it possible to have the LLC in my name only even though we have joint ownership? If n...
11/17/2009 | Category: LLC | State: Florida | #19670Should an Accountant form a PLLC or a LLC in Illinois?
I am registered certified public accountant in Illinois (not a licensed certified public accountant who can provide attest services and sign financial statements) I want to form a LLC because I bought a tax franchise. I may also offer accounting services like bookkeeping, etc. Should I form a LLC or PLLC in Illinois? Is it ok in that case to just form a LLC?
11/03/2009 | Category: LLC | State: Illinois | #19449Can a LLC Be Sued for Personal Debt of the Owner?
I am being sued in a defamation case against my ex-boyfriend. I am a LLC with five homes that are cash free. Can the courts make me pay him for my personal properties? Or---can he only sue me for my personal home and cash in the bank? Which one of these two can he be awarded money against me?
10/31/2009 | Category: LLC | State: Florida | #19398How do we sell a LLC and secure payment with a promissory note?
What legal document do I need for selling a LLC with colleteral of A/R & All Assets, and a promissary note for $190,000 in State of WA
10/29/2009 | Category: LLC | State: Washington | #19369How Do I Sell My LLC and Not Have Any Liability?
I have formed a LLC in the state of Delaware and want to transfer to my assistant who will take over the business. I want to ensure that if anyone looks up the name of the Owner, I am not on any documents and have no liability. I know I need a bill of sale, but what else is needed to complete the transfer?
10/28/2009 | Category: LLC | State: Florida | #19330Can a LLC Form an Employee Stock Option Plan?
I am the majority owner of an LLC. What is the easiest way to issue something similar to stock options for our employees and contractors? I'd like to set up the options with the following objectives: No tax implications for the employee and contractor until they exercise the option. No voting rights. Performance based vesting/issuance. What other common clauses I should have in...
10/18/2009 | Category: LLC | State: Washington | #19145If I resigned as a member of a LLC, am I still responsible for company work and debt?
I have resigned from an LLC. 6 months ago and now my ex-partner has closed the buisness. Clients are calling me to finish their work and threatening legal action against me. What is my legal standing?
10/09/2009 | Category: LLC | State: Colorado | #19006How do I form a LLC in Nevada and may the LLC own property?
To put a property in an LLC do a trust and will have to be prepared first? Also if there is a second property, how does that work? A separate LLC and will & trust? How quickly can the LLC establishment process be completed for a Nevada LLC? Also what is the cost?
10/02/2009 | Category: LLC | State: California | #18904How Do I Remove a Member of a LLC or Dissolve the LLC in Tennesssee?
I own a small LLC company here in Chattanooga, Tn. My wife is part owner. It basically is a 50 % deal. We are going thru a nasty divorce and she is really causing me to loose a lot of my regular customers. She will not give me the computer with my customer base on it and my accounting. I am now going on 4 months behind in my accounting and am starting into my busy season. How c...
08/23/2009 | Category: LLC | State: Tennessee | #18206