Setting up an LLC - Legalzoom or Local?

[Kevin Mosier]

So I am starting a partnership with two friends, and we're about ready to get into our first deal. We've found an off-market deal, and we could move on it fairly quickly.

We have yet to set up an LLC. I've talked to local counsel, and the first person I've talked to has an hourly rate of $250/hr billed in 6-minute increments. He assumed it would take between 2 and 3 hours to set it up, plus filing fees. The total cost of $850ish.

LegalZoom has an express plan that is $359 for their full package, plus filing fees totaling about $500. They'd give me basically what I'd get for around $850. Is it worth the extra $350 to go to someone local and start building that relationship, or would anyone speak highly of the LegalZoom process?

[Andrew K.]

It's important that your partnership agreement spell out EXACTLY what you want.  Outlining everyones responsibilities, contributions and potential dissolution.  For example: What happens when a partners dies?  Do you want to be partners with their spouse (if they have one)?  Without that spelled out in the agreement you very might be partners with their spouse and that may be the last situation you want to be in.  I doubt LegalZoom will cover the details that should be covered.