8. Client Letters
The liability limitation and tax benefits of a limited liability company can be jeopardized if the LLC is not operated as an entity separate from its owners. To help avoid this problem, a lawyer can send a letter to the members or managers of a newly-formed LLC summarizing the dos and don’ts of LLC operations. We offer four different forms for such a letter, each designed for a different type of LLC.
Although LLCs are increasing in popularity, it is important for a new enterprise to look at various alternatives before selecting a form of business entity. Form 8.5 is a letter from a lawyer to a client listing the types of entity that are available and noting the advantages and disadvantages of each. While the letter is unlikely to answer all of the client’s questions, it may provide a framework for efficient decision making when the lawyer and client meet to discuss choice-of-entity issues.
Click below to read more about or purchase a specific form:
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