Setting up an L.L.C.

[Adrion Thomas]

Hi guys,  

I'm in the planning/beginning stages of my Investing business. I need opinions on an attorneys quote for getting my llc established. Is $600 + state filing fees reasonable? 

[Justin S.]

Well, that depends. If $600.00 is simply for the Articles of Organization without any other document then it seems a bit unreasonable to me. It is unreasonable primarily because you can easily do it on your own. However, if that includes an operating agreement then I believe that $600 is an excellent price. It really depends on your intended purpose for the LLC. If your intention is to simply use it for a single property and never utilize a partner and never bring in another member to the LLC then an operating agreement may not be critical. However, if you ever intend on bringing another member-EVER- you need to utilize an operating agreement establishing the rules up front now. If you decide to utilize an operating agreement, please allow an experienced transactional lawyer look it over for you.

Good luck!

JWS

Disclaimer: Nothing outlined above shall be relied upon and/or considered legal advice.  The above communication in no way creates an attorney/client relationship.  If you are in doubt about your legal rights and/or responsibilities, please seek qualified counsel.