Has anyone used Leagal Zoom.com? To form an LLC or any Corp, I just wanted to know How they did. I was looking into getting it done through them. It would cost about $734 .00 :rolleyes
Does the fee include state filing fees? That is a little pricey for an internet service with a fill-in-the-blanks agreements.
I used a different one (A.I. online) that did all (including filing fees, EIN, corp seal, registered agent, etc, etc) and cost $539.00.
Gary,
That’s a pretty good price. Did they provide sample minutes and resolutions?
BLL,
Yes, I thought so too.
They provided a very nice Nolo LLC book and a CD of sample minutes, resolutions, articles of agreement, and general. It is, however, one of the fill in the online blanks applications that can be confusing. So, for anyone considering it, I would strongly suggest talking to someone first about the particulars of LLCs (i.e., Manager Managed vs Member Managed, how the IRS treats members that are husband & wife and electing to be taxed as an S-corp, reg. agents, etc).
Gary,
Can you direct me to the site? I tried looking up what you posted earlier but led me nowhere. Thanks.
James
Check with your state (online) about registering an LLC through them directly. I did mine for 100$ and 25 $ for name reservation. That also include article of oganization. It took about 20 min to fill out and a 24-48 hour turn around from the state.
If this is your first LLC, why not pay an attorney $250 to make sure that your paperwork meets all the state specific requirements. Once done, use that as a model when you do it yourself for the second and subsequent LLCs.
The attorneys want $1,200.00 to do it. :shocked :banghead. BUT I did find a site that they charge only $ 243.00 for everything :deal :beer. There site is www.amerilawyer.com They also have corperations already set up and ready to puchase, they are between 1-4 years old. I’m not sure what the age of the corp has to do with the price but I did e-mailed them asking them. :biggrin
Shelf corporations are means to extract money from your wallet. There is no brand recognition or any assets that justify paying for it. The exist because the company set it up and the client didn’t pay for it.
Keep in mind you are paying for the operating agreement, not filing some paper work with the state. LLCs fail because the members don’t operate it correctly or the operating agreement is insufficient. Cooke-cutter agreements and most everything found on the Internet won’t stand up to a determined creditor attack. The people that draft them have no experience defending them and rely on others to figure out what might work in court. They are so cheap because they are sold in volume. Mass market is good for commodities. It’s not good for legal work.
There is no reason to spend a $1,200 unless you have millions in property and other assets to protect (and in that case you’ll need more than an LLC). Cheapie LLCs work because almost all cases settle for the insurance limits and it never gets to the point where the LLC is actually needed. LLC protections becomes necessary after insurance has paid out and the creditor is looking to satisfy the excess judgement. Most judgement fall below $2M and most lawyers are too lazy to pursue the case when the insurance money is an easy grab. A low cost LLC will get it registered and allow you time to learn how to use it properly. Later on, you can hire a real attorney to draft a proper operating agreement.
They also have a few that are client owned that have paid state and federal income tax returns and one that is a non profit orginization for 20 k. dDo buisness decide to sell these as commodites?
I wrote to LegalZoom and they will not allow third party trustees or managers.