Bankruptcy court decisions have treated single member LLCs differently that if the LLC had multiple members.
The Olmstead v. FTC and the In Re Ashley Albright single member LLC cases highlight whether the member’s management rights need to be respected. The effect of these cases is currently limited to single-member LLC/PLLCs, though multimember LLCs could also be at risk due to the Olmstead decision. A comparison of entity risk of personal liability as well as advising your client for full disclosure purposes is whether a single-member corporation electing Subchapter S or a single-member LLC/PLLC is more preferable for the client.
Jeffrey M. Grieff is Of Counsel at Miller Nash Graham & Dunn LLP in Seattle, Washington. His practice emphasizes all aspects of representing individuals, professionals, and closely held companies in the selection, formation and governance of closely held entities, operating matters and transactional matters. Mr. Grieff conducts regular seminars and workshops on the selection, formation, governance and operation of limited liability companies, corporations, and non-profit/exempt organizations.
Jeffrey M. Grieff
Miller Nash Graham & Dunn LLP
- Shareholder in Jeffrey M. Grieff, P.S., and Counsel to the law firm Miller Nash Graham & Dunn LLP in Seattle, Washington
- Practice is focused on representing individuals, professionals, closely held companies, nonprofit entities in formation, governance, compliance and general business matters
- Specifically, he advises clients on entity formation of corporations (“S” & “C” types) professional service corporations, limited liability companies, professional limited liability companies, general partnerships, limited liability partnerships, nonprofit corporations and nonprofit limited liability companies, the Application for Recognition of Exemption (Forms 1023 and 1024), and IRC Section 501(c) Exempt Organizations compliance
- Also works closely with clients on operating and governance issues including state and federal compliance with rules, administrative codes, regulation and interpretation issues
- Has extensive experience and expertise representing medical and legal professionals, and frequently counsels clients on specific issues that occur in professional organizations
- Volunteers with the Washington State Bar Association’s Law Office Management Assistance Program (LOMAP), counseling lawyers on selecting and forming the proper entity for lawyers and law firms, as well as explaining the tax ramifications of the entity choice
- Member of the Washington State Bar Association (Business Law Section and Real Property, Probate and Trust Section) and the American Bar Association (Business Law Section and Real Property, Trust and Estate Law Section); also a member of the Society of Trust and Estate Practitioners
- Has been a presenter in numerous programs for lawyers and CPAs
- J.D. degree, University of Puget Sound; B.A. degree in business, University of Washington
- Detailed biographical information can be viewed at www.millernash.com
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- Live Webinars
- OnDemand Webinars
- MP3 Downloads
- Course Manuals
- Audio Recordings*
- Executive Reports
- White Papers and Articles
- Sponsored Live Webinars
Additional benefits include:
- State Specific Credit Tracker
- Members Only Newsletter
- All-Access Pass Course Concierge
* For audio recordings you only pay shipping
Questions? Call 877-296-2169 to speak with a real person.