Call Us Today At 608.829.2525

Horn & Johnsen

  • Home
  • Estate Planning
    • Wills
    • Trusts
    • Medicaid
    • LGBTQ
    • Legal Concept Videos
    • Events
  • Practice Areas
    • Probate
    • Guardianship
    • Business Law
    • Real Estate Law
    • Legal Concept Videos
    • Events
  • Attorneys
    • John Horn
    • Dera Johnsen-Tracy
    • Events
  • Videos
  • H&J Blog
  • Testimonials
  • Contact Us
Free Estate Planning Book

Do I Really Need an Attorney to Set Up an LLC?

Do I Really Need an Attorney to Set Up an LLC?

by HJ / Monday, 20 October 2014 / Published in Horn & Johnsen News

There can be many benefits to creating a Limited Liability Company, whether you own an apartment complex, have a consulting business or are selling cupcakes. With a properly organized and managed LLC, you can protect your personal assets from the debts, obligations, and potential lawsuits of your business. In addition, a Limited Liability Company can provide for continuity in the event an owner dies, becomes incapacitated, or leaves the business.

In Wisconsin, the Department of Financial Institutions offers an online method to quickly file Articles of Organization for a Limited Liability Company. Many assume that, after answering a few questions online and paying a $130 filing fee, you are magically protected from liability!

However, filing Articles of Organization online barely scratches the surface of creating an effective Limited Liability Company. There are many additional legal requirements that must not be overlooked. For example, Wisconsin law provides that you must have an Operating Agreement in place which lays out the general guidelines regarding management of the LLC. Without this important document, your LLC provides you with no protection and the creditors of your business could easily “pierce the corporate veil” and obtain access to your personal assets.

The moral of this story is that, if something looks too good to be true, then it probably is. The cost of hiring an attorney to assist you with establishing your Limited Liability Company can be well worth the legal protections you will obtain in the long run. We often discover the dangers of do-it-yourself estate planning when it’s too late – after a death or incapacity. We often discover the dangers of do-it-yourself business planning when it’s too late – after your business has been sued.

Source: New feed

Tagged under: Charging Fees

What you can read next

health care planning madison wi
I have an estate plan in place! Now what?
transition-therapy
Guest Blog: A Transition Therapist Can Help with the Uncertainty of an Aging Parent
AAII Logo against blue background
John Horn and Dera Johnsen-Tracy Published in AAII Journal

Recent Posts

  • Estate Planning at Every Stage of Your Life!

    Although we all know how important it is to hav...
  • notebook with estate planning written on paper

    Avoid These Common Mistakes When Estate Planning

    We all know how important it is to have some fo...
  • Older couple with document

    Do You Need More Than a Will?

    When many people think of estate planning, thei...
Horn & Johnsen SC - Estate Planning Center of Wisconsin

Estate Planning
Guardianship
Business Law
LGBTQ

Probate
Medicaid
Real Estate
Special Needs

APPOINTMENT LOCATIONS

Madison
Waukesha
Baraboo
Brookfield
Sauk City
Janesville

DOWNLOAD PERSONAL INFORMATION QUESTIONAIRE

SUBSCRIBE TO HORN & JOHNSEN

We respect your privacy and take protecting it seriously.

OFFICE LOCATION

Horn & Johnsen SC
8446 Excelsior Drive, Suite 102
Madison, WI 53717
P. 608.829.2525
E. info2016@hornjohnsen.com
Sitemap

Copyright 2019 Horn & Johnsen. Powered by Digital Fitness.

TOP