8 Stupid Mistakes in Your LLC Operating Agreement

great info.

What about a holding company with multiple LLCs ?

If I initially sent up my company as a member managed LLC, can I change it to a manager managed LLC? Or once it is established, is it to late to change it? If I can change it, how do I go about doing it?

An S Corp can’t do non-pro rata distributions?

I asked Chat GPT for an operating agreement. 😀

Thank God ....This channel is a godsend, and the information, is powerful! This is an experienced lawyer talking right here, not an amateur! I appreciate this executable information! Thank you!
please do makevideos for creatives also outis real-estate....

Outstanding direct to the point priceless information for free. Clint may you be continually blessed you absolutely rock!!!

good stuff

What if you want the anonymity structure from your other video but you also want these results too

Learned alot.

Anybody out there know what forms if any Would need to be filed if We add a member to our LLC ? I've been doing a lot of searching , and I don''t seem to be finding anything ..

I shoukd have seen this video in the beginning 😮. So we are new to this LLC but i put me and my husband as a member manage 😓 is there a way how i can change that or would i have to start all over again? I only want to be able to sign checks etc like his secretary only.

This is by far, the best video I've seen about this topic.

great info. thank you. subbed.

It's not coming from my heart! Stop the money to Ukraine!

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Clint, before creating an LLC, can a person acquire a registered agent and use that information for acquiring a EIN?
Are umbrella LLC structures more protective than having individual LLC corporations?

Hi Clint. You provide excellent content.
When you explained the first issue in your video, you talked about a person deciding whether the llc
was going to be member managed or manager managed, and you mentioned that even though the person is
going to be the member and the manager, you still like to set them up as manager managed because it
tells everyone, that this is the person that has control.
My question is the following: Could you apply this same reasoning when you use a Wyoming llc holding
company as the member and manager of the llc instead of a person? In other words, could you state
the following: "Even though the Wyoming llc holding company is going to be the member and the
manager, I still like to set them up as manager managed because it tells everyone, this Wyoming llc
holding company has control of the company."
Whenever you mention the Wyoming holding company strategy in your other videos, you always say that the
state specific llc will be member managed by the Wyoming llc holding company. therefore, i wanted to
know if you could apply the above mentioned reasoning from this video to an llc held by a Wyoming llc
holding company, where you choose to have the llc set up as manager managed by the Wyoming llc
holding company.

Ok yum he’s so hot 🥵

I have a single-member LLC. Do I need to have a Tax Provision in the Ooerating Agreement or is it automatic that the single-member LLC will be taxed as a Disregarded Entity and does not need to be in the Operating Agreement?

Can I still be the owner of my company even if I set it up as " Manager- Manage"?

Is an S corp rental property still protected in a revocable trust if you are presented with an injury lawsuit. I read something that said the revocable (or changeable ) trust can make entity protection null and void. Thanks for any input you can give.

Love your videos!! Have watched several today! So informative!! Thank You!

Brilliant advice. Wish I knew you in 80's , lost home due to stupid lawyer. Again lost home 2016,stupid lawer

Thank you, for the information. It's a blessing!!

Thanks for the information Clint. Re Forced Distributions - My Operating Agreement states annual distribution of net cash flow. It also states if/when, timing and amount is at the Manger's sole discretion. So... does it provide the protection your video discusses?

Section 6.02. Annual Distributions of Net Operating Cash Flow. After reserving for the working and other capital needs of the Company, the Manager shall distribute Net Operating Cash Flow annually. These distributions if or when made shall occur at such times and in such amounts as the Manager may determine in the Manager’s sole and absolute discretion.

"The Members will receive a profit distribution in proportion to their ownership interest in the Company."
Is this line considered force distribution?

In the Still of the filled in the attorney of the operating agreement in the property manger in the LLC
IN THE STATEMENT THE FORCED RATA ARE IN PRO RATA DISTRIBUTION
THE CHANGING LANGUAGE NO RESTRICTORS OR TRANSFERS
IN The reception revision description restrictors are in there is no officer appointment provision😊😊🎉🎉🎉

sir, please guide me I am going to form an LLC in the USA do I need to have an operating agreement? can I work without an operating agreement?

THANK YOU very much for this free education 🙏 God bless you for sharing your knowledge 🙏

Awesome content Clint! My agreement states: Section 5.02. Creditor Rights. If a court enters a charging order against a Member, a Substitute Member, or an Assignee, then the judgment creditor shall be referred to as the “Charging Order Holder.” Pursuant to W.S. 17-29-503, the charging order is the exclusive remedy by which a Charging Order Holder may obtain any satisfaction from the Company.
The Charging Order Holder has only those rights specified in the foregoing statute and nothing in this Agreement shall be construed to provide otherwise. This Section does not deprive any Member, Substitute Member, or Assignee of rights under any available exemption laws. A Charging Order Holder has no rights of a Member.
Does this clause grant them any of the member’s interest?

Amazing video! Thanks for the informative vid! Gained a sub 👍🏻

Thank you for this valuable information. Does a Single Member LLC holder apply the same strategies to their operating agreement? If there are some differences, could you please make a video that explains it? Thanks! 😊

Great video, much appreciated! I’m about to download the link. Can anyone let me know, I assume all these tips are already including in the link for the operating agreement? Thanks.
I’m trying to setup a one member LLC so I want to assure that I make it as iron clad as I can while maximizing my taxes advantages. I’m in California but looking towards a Wyoming, Delaware setup but operate in California. Any tips for setting up is appreciated. Thanks.

Set up an llc through legal zoom and it’s been a joke. They screwed it up from the beginning and have been deflecting blame for the past three months and refuse to fix their mistake including adjusting the Operating Agreement.

All of the provisions you mentioned are these for any sized company? what if you are a single person company?

Thank you.

❤👍🏾

What would be the best strategy for Maine? Thanks I'm advance!

Is there an operating agreement template we can download?

Wyoming has a specific LLC type called Close LLC. It seems to have some of the features you outlined here. It sounds like a good option for most family owned real estate investors. What do you think?

Why would you need a LLC to buy a house?

Thanks for sharing critical information. Will the 3-8 apply to a 1 member LLC?

Operating agreements are not filed with the State. They're for your own record keeping...

Hi, watched your video and it was the most informative one i have seen yet! Do you have an operating agreement template that I can purchase from you? If not, can you recommend one. Thank You!

Thank you for sharing this very important info for those of us with no experience.

Good information

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