An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

Is a limited liability company a party to and bound by its own operating agreement? Many folks would say, “Yes, of course.” But it turns out the answer varies depending upon the law of the company’s ...

Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly. However, it can easily be inaccurately written or leave out ...

Greg Daugherty has worked 25+ years as an editor and writer for major publications and websites. He is also the author of two books. David Kindness is a Certified Public Accountant (CPA) and an expert ...

Forbes contributors publish independent expert analyses and insights. I cover Wealth Preservation in its legal permutations When drafting LLC operating agreements, lots of planners include clauses to ...