To hire Richard Keyt to form a Delaware limited liability company, complete this Questionnaire and send it to Richard Keyt by clicking on the Submit button at the end of the Questionnaire.
Enter the LLC's exact name. If you are not sure of the name or do not know it, enter "Undecided" and continue filling out this questionnaire. Email the name to KEYTLaw LLC legal assistant Carol Keyt at firstname.lastname@example.org when you know it.
Note: We will double check the Delaware Division of Corporation's name database and let you know if the name you choose is not available.
What is the purpose of the LLC? This information is for our information only. It is not given to the State of Delaware or made available to the public. The LLC can engage in any lawful activity.
Select the total number of LLC members (owners). The rules below apply to married members.
One Member: (1) A husband & wife who will own their interest in the LLC as community property or as joint tenants, or (2) a married person will own his or her interest in the LLC as separate property and the other spouse will not have any ownership of the LLC.
Two Members: A husband and wife will own their interests in the LLC as separate property. Complete Information about the Member for each spouse.
Check the box to tell Richard Keyt who he represents as his client.
Will any owner be required to pay money to the LLC? Delaware LLC law provides that no member of an Delaware LLC is obligated to pay money to the LLC unless the member signs a document that states the amount and due date of the payment. If you select Yes then this Questionnaire will ask how much money must each member contribute and when will the money be due. If multiple payments will be required, enter the additional payment information in the Additional Information field at the end of this Questionnaire.
What name do you want to appear in the LLC's Operating Agreement for this member? If the member is a trust, the name must be the legal name of the trust. If the member is an entity, the name must be the legal name of the entity such as World Wide Widgets, LLC or Best Widgets, Inc.
Enter the percentage of the LLC owned by this member. The total percentage owned by all members must equal 100%.
If the spouses own as community property then if one spouse dies the other spouse automatically becomes the sole owner of the membership interest without the need for a probate and there may be an income tax advantage. Community property ownership means that if the spouses divorce each spouse is entitled to one half the value of their joint ownership interest in the LLC.
Arizona law provides that if a spouse who is an Arizona resident acquires property during marriage the property is automatically community property unless the property was acquired as a gift or from an inheritance unless the non-owner spouse signs a disclaimer. When a spouse owns the LLC as separate property and the spouse dies, the interest does not pass automatically to the deceased spouse's heirs and an expensive and time consuming probate will be necessary to transfer the interest to the heirs.
If this spouse is to own his/her interest as separate property we will prepare a Disclaimer that the owner spouse must get the non-owner spouse to sign.
Insert the date of this member's existing trust agreement.
Name of the trustee(s) as set forth in the Trust Agreement.
In what state was the entity formed?
This member must sign the Operating Agreement and the organizational resolutions. Who will sign for the entity and what is the signer's title? For example: Homer Simpson, Member (if the entity is a member managed LLC); Homer Simpson, Manager (if the entity is a manager managed LLC), Homer Simpson, President (if the entity is a corporation) & Homer Simpson, General Partner (if the entity is a limited partnership).
Delaware law does not require a member of an LLC to contribute money to the company. However, if you want a member to contribute money to the company the member must sign a document that creates the legal obligation to pay money to the LLC.
If you want to create a legal obligation for this member to pay money to the LLC select the Yes button and answer the contribution questions that follow. We will then include language in the Operating Agreement that requires this member to make the capital contribution(s).
Note: If this member is to be obligated to make more than one payment include the future payment amounts and due dates in the Additional Information field at the end of this Questionnaire.
How much money is this member required to pay to the LLC?
What is the deadline on or before this member must pay the contribution amount to the LLC?
What name do you want to appear in the LLC's Operating Agreement for this member? If the member is a trust, the name must be the legal name of the trust. If the member is an entity, the name must be the legal name of the entity such as World Wide Widges, LLC or Best Widgets, Inc.
The LLC must have at least one manager. The manager can be a person, corporation, another LLC, a trust or a partnership. The manager does not have to be an owner (member) of the LLC. Note: Only managers have the legal power to sign contracts and bind the LLC on legal obligations. If you want a person to be able to sign contracts on behalf of the LLC that person must be a manager.
Select the statement that applies to your LLC.
If a manager's address is the same as an address entered above enter "Same as Member 1's address" or "Same as Member 2's address." If the manager's address is not listed above enter the address of the manager.
To add an additional manager click on the + button on the right of the row.
The contact person is the person we will contact if we have questions and the person to whom we will send correspondence.
Name of the person Richard Keyt or his legal assistant should contact if they have any questions or issues concerning the LLC.
Where do we mail the LLC's portfolio of documents?
Insert the name and address of the person to whom we are to mail the LLC's portfolio.
If we need to send correspondence to the LLC, who should we send it to?
Insert the name and address of the person to whom we are to mail correspondence intended for the LLC.
What is the email address of the person to whom we will send this Questionnaire for review and approval?
Do you need another field to enter information about additional members or capital contributions or any other information you want us to know?
In the field above type any additional information you want Richard Keyt to know about the members, managers or the to be formed LLC.
If the LLC will have more than four members enter the following information here for each member: name of member, percentage ownership, single or married person (spouse's name if married), entity type and state of formation and who signs for the entity and his or her title, address and phone number.
If any member(s) is/are required to make more than one payment of money to the LLC insert the name(s) of the member(s), amount(s) of the contribution(s) and due date(s) of each additional contribution.
Check this box if you want to purchase a custom Buy Sell Agreement in addition to the Operating Agreement. Save $600 off the $1,497 we charge for this agreement when we do not form the LLC. To learn more go to Why Multi-Member LLCs Must Adopt a Buy Sell Agreement.
You are done. Click the Submit button below to send your Questionnaire to LLC attorney Richard Keyt and a copy to the person whose email address entered above.
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