Aug 25

LLC + ideas

On Wed, Aug 24, 2016 Ed Schulenberg wrote many good ideas about forming an LLC.  See that email for the ideas.

Then on 8-25-16 Ed added:

I know that when the Lake Property was transferred to the three of you (after Opa died), it was deeded as Tenants in Common according to a letter we received from O&O’s Attorney (George D.).  I suggest you use an Attorney to establish the LLC.  I am sure it could be done legally without an Attorney but doing it correctly is worth the cost and much less time consuming, in my opinion.  It would be worth discussing the LLC structure with an accountant as well.  Since there is no income I wouldn’t think there would need to be any tax information returns created for the LLC, however a tax id number would need to be created for the entity.  An Attorney that specializes in this area could probably answer most questions.