“Membership interests actually need to be issued. All too often small businesses just kind of “forget about” issuing membership interests in their LLCs. They get busy running the business and forget to keep their business foundation in order."
Siesta Key, FL (PRWEB) January 07, 2013
LegaLees Corporation announces the release of a new article on Membership Interests for LLCs by Attorney Lee R Phillips. This is an important concept to understand as membership interests or certificates represent ownership in an LLC. If the membership interests are not properly issued and maintained, the liability protection for the LLC comes into question.
Often when starting an LLC, the founders forget to describe how membership interests for the LLC should be issued or held. It is easy to do the right thing when given the proper criteria. An article just released on LegaLees.com reveals the necessary criteria to help business owners make the right choice for their company.
As Mr. Phillips the author observes, “Membership interests actually need to be issued. All too often small businesses just kind of “forget about” issuing membership interests in their LLCs. They get busy running the business and forget to keep their business foundation in order. It is part of the “formalities” that need to be followed when you have a company. If the LLC formalities are not correctly used, the courts won’t use the LLC to “protect” the company there is a problem.”
The article describes how to issue membership interests or certificates. It is analogous to getting a stock ledger and stock certificates to issue in a corporation. It also describes how the membership interests are an asset and that is important to hold those assets correctly. The article continues with a description of how to change the way membership interests are held, if they are currently not held correctly.
Mr. Phillips serves as a counselor to the Supreme Court of the United States. He is the author of 11 books; along with his latest book Guaranteed Millionaire. He has written hundreds of articles for professional people assisting them in finding various strategies to use the law to protect their property, save taxes, and make additional money. He is an asset protection, tax planning and entity structuring attorney who has addressed thousands of men and women on these topics. He finds fulfillment in helping other people apply the law, not only to provide asset protection and estate planning, but to use it to structure businesses and save taxes. He helps them reach new financial heights.
LegaLees is a legal self-help publishing company that was founded in 1982. It produces products designed to help people understand the law and better structure their personal and business affairs. Their mission is to help people protect assets and prevent legal disasters that can strike at any time.