Fitting the LLC to the Transaction (2007)
The limited liability company, the LLC, has become the entity of choice for many business clients of attorneys, yet there is no “one size fits all” LLC operating agreement. The content of the operating agreement depends in large part on the nature of the business transaction - whether involving, for example, an investment entity, family asset planning, or a real estate enterprise - and on the potential complexity of the transaction.
This practical program goes beyond a survey-type course and explains how to use LLCs for different business transactions. After a review of LLCs generally and some basic drafting points that are common to all LLC operating agreements, the experienced panelists, practitioners in estate planning, investment counseling and real estate, discusses how to tailor an LLC for those transactions with emphasis on structure and drafting considerations. The speakers also address tax issues applicable to LLCs in general and to the specific areas/transactions for which you are drafting.
The speakers spend considerable time analyzing terms and provisions that should or should not be in an operating agreement, given the client’s objectives, and they highlight recommended drafting tips for the attorney/business counselor.
· A Review of Entity Selection And LLCs in General
· Tax and Family/Asset Planning via the LLC Format
· The Use of an LLC in a Real Estate Venture
· Forming and Advising an Investment Entity as an LLC
Bruce A. Rich,
* Each additional person who uses the tapes for MCLE credit must purchase a copy of the “MCLE coursebook.”
* This recording already includes one copy of the MCLE course materials. Course materials provided electronically for all CLE Online Programs, and for CD/DVD Programs from 2010 and later. CD/DVD Programs prior to 2010 include a printed copy of the course materials.