Drafting LLC and LLP Agreements Training Class

Course ID: 12650

Drafting LLC and LLP Agreements Training Seminar

Strengthen Your Knowledge and Drafting Techniques

In recent years, LLCs and LLPs have fast become the entities of choice for many types of business ventures across the country. As a lawyer, accountant or other professional, you're often called upon to assist your clients in the preparation of agreements for these entities. Correctly drafting the specific details of the agreement can be the key to the venture's success. Are you prepared to help your clients deal with these arrangements?

This nuts and bolts seminar will help you save significant amounts of time and effort when working on these contracts. Identify essential concepts you need to know when beginning the drafting process. Understand the economic rights and obligations of the entity and discover the fiduciary and related duties your client will need to consider. Come away with answers about how to help your client set up an effective management structure and create a practical plan for transfers of member interest.

Make sure your knowledge and skills meet your clients' expectations:

Discover how to account for initial and future contribution obligations
Learn how to handle member compensation for services
Find out how to take care of distributions upon liquidation or insolvency
Examine the duties of loyalty and care
Learn the basic concepts behind action by written consent
Find out the difference between member managed and manager managed LLCs
Get bottom line answers about events that can cause the termination of member status
Identify the difference between economic and membership interest


	Agenda
	BASIC DRAFTING CONCEPTS James L. Leet, 8:30 - 9:20 Default Rules vs. Mandatory Rules Capital Accounts ECONOMIC RIGHTS AND OBLIGATIONS James L. Leet, 9:20 - 10:20 Initial and Future Contribution Obligations Treatment of Non-Cash Contributions Member Loans Member Compensation for Services Member Expense Reimbursement Interim Distributions Liquidation Distributions Income and Loss Allocations FIDUCIARY AND RELATED DUTIES James L. Leet, 10:35 - 11:35 Standard of Care Duty of Loyalty and Duty of Care Non-Waivable Duties Distributions During Insolvency Indemnities Derivative Actions MANAGEMENT Donald W. West, 11:35 - 12:35 Management Structure Voting Action by Written Consent Member Managed LLC Manager Managed LLC MEMBER STATUS Donald W. West, 1:35 - 2:35 Admission of New Members Expulsion of a Member Events Causing Termination Voluntary Withdrawal Notice of Withdrawal ETHICS R. David Bolls III, 2:35 - 3:35 Conflicts Waivers of Conflicts of Interest Confidential Information Conflict TRANSFERS OF MEMBER INTEREST R. David Bolls III, 3:50 - 4:40 Difference Between Economic Interest and Membership Interest Transfers at Death Judgment Creditor's Rights


	Audience
	This basic-to-intermediate level seminar is designed for attorneys practicing in the areas of corporate law, corporate and business taxation, and real estate. Accountants, financial planners and enrolled agents also will find this comprehensive seminar beneficial.