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Top 5 Reasons You Should Hire an Attorney to Draft Your Operating Agreement

  1. An experienced business attorney has drafted many operating agreements and therefore can help you forecast potential disputes down the road that you may have never thought of.
  2. An attorney can help determine whether your LLC is member-managed or manager-managed and draft your operating agreement accordingly.
  3. Hiring an attorney from the onset can help you avoid a number of mistakes in drafting operating agreements. It is always easier to agree at the beginning of a business venture, versus down the road when the company has been up and running.
  4. An attorney can help ensure that the agreement is an accurate representation of what the company and its members desire.
  5. An attorney can make recommendations when it comes to tricky matters such as “special allocations” of personal liability and distributions, successorship, buyouts, etc.

Note: Remember an Operating Agreement is a working document. This means that after your business is up and running, you should revisit your operating agreement at least every 6 months to make sure it accurately reflects how you are actually operating your business. If you are operating in a manner that contradicts your Operating Agreement, it will need to be revised.

If you would like a quote for an Operating Agreement for your business, please fill out the following:  Meglino Law Contact Form

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