How to Minimize Legal Risks in the Winding Up Process
Terminating an entity's legal existence requires strict adherence to internal rules and state law. This course provides a practical overview of the major steps in the dissolution process, from triggering event to asset disbursement and creditor notification. Learn how to advise clients at the end of their business lifecycle - register today!
- Identify the steps required to voluntarily dissolve an LLC.
- Get strategies for handling special considerations surrounding business licenses, extra-state business affairs and outstanding accounts receivables.
- Learn how to approach creditor notification and claim settlement.
- Clarify the consequences of failing to dissolve an LLC.
1:00 pm to 2:00 pm Eastern Standard Time
Presenter: Samantha Neel
- Types of Termination: Voluntary, Judicial and Administrative
- Steps to Voluntarily Dissolve an LLC
- Review Operating Agreement Guidelines
- Consent of Members
- Commencement of Winding Up
- Notice to Creditors
- File Final Tax Return and Employment-Related Taxes
- Distribution of Remaining Assets
- File Articles of Dissolution
- Special Considerations
- Authority to Transact Business in Other States
- Business Licenses and Permits Need to be Cancelled
- Collect Outstanding A/R and Notify Clients
- Bulk Sale Laws
- Notifying Creditors and Settling Claims
- Consequences of Not Dissolving an LLC
This program is designed for attorneys. Accountants and paralegals may also benefit.