How to Address Five Key Business Organization Law Issues
The first organization issue that businesses face is dissociation events and buy-sell provisions, which should be combined in the same LLC agreement provisions. These are events such as deaths, whose occurrence terminate a member’s membership. LLC agreements need comprehensive and properly tailored provisions for dissociation events in order to establish who is and isn't a member of the relevant LLC at any given times. Many LLC members and managers are careless in documenting changes in the membership of their LLCs. This white paper reviews this issue along with four other issues including fiduciary provisions, duty of care, duty of loyalty, and dispute resolution.
Former trial attorney with the Tax Division of the United States Department of Justice and a former member of the International Trade and Tax Department of Baker McKenzie LLP
Author of Maximizing Pass-Through Deductions Under Internal Revenue Code Section 199A, published by Wolters Kluwer, an international legal and tax information service
Practice is focused on LLC formations and other transactions involving LLC law and tax and on advising clients on how to structure their businesses to maximize their section 199A pass-through deductions, section 199A services have saved his clients tens of thousands of dollars in federal income taxes
Author of Drafting Limited Liability Company Operating Agreements, also published by Wolters Kluwer, leading U.S. LLC formbook and practice manual
Former chair of both the corporate and tax sections of the New Hampshire Bar Association
Chaired and was a principal author of the Revised New Hampshire Limited Liability Company Act
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