Ultimate Guide to Single Member LLCs

Agenda / Content Covered

1. Is a Single Member LLC Right for the Client?
   10:00 - 10:45, Imants F. Holmquist
   1. SMLLC Pros and Cons
   2. When NOT to Use an SMLLC
   3. When to Use an SMLLC
      1. Multiple Entity Structures
      2. Real Estate Transactions & 1031 Exchanges
      3. Entrepreneurs
      4. Estate Planning
   4. Conversions
2. Asset Protection and Single Member LLCs
   10:45 - 11:45, Bradford E. Block
   1. Piercing and Defending the SMLLC Veil
   2. Charging Order Mechanics and Defenses
   3. Other Creditor Remedies and Defenses
   4. Best Practices: Strengthening the Liability Shield
   5. Common Mistakes and Misconceptions
3. State of the States: Case Law Developments and Forum Shopping
   12:00 - 12:40, Bradford E. Block
4. Understanding How SMLLCs (and Their Owners) are Taxed
   12:40 - 1:30, Bradford E. Block
5. Forming Single Member LLCs: Structure and Operating Agreements
   2:00 - 3:00, James A. Borchers
   1. Organization
   2. Management and Membership
   3. Powers, Rights, and Decision-Making
   4. Interest Transfer and Restrictions
   5. Planning for Owner Exit/Incapacity
   6. Capital Contributions
   7. Distribution and Allocation
   8. Asset-Protection Provisions to Include
6. Operating Single Member LLCs
   3:00 - 3:45, James A. Borchers
   1. Licenses, Permits, and Insurance
   2. Contracting and Bank Accounts
   3. Resolutions and Authority
   4. Recordkeeping
   5. Yearly Reporting and Tax Obligations
   6. Dissolution/Winding Up
7. LLC Ethical Traps
   4:00 - 5:00, Imants F. Holmquist
   1. Role of Attorney in LLC Formation
   2. Avoiding Conflicts of Interest
   3. When to Refer an LLC Case Out
   4. Fraudulent Transfers

Accreditation Details:

Bradford E Block is the principal of the Law Offices of Bradford E. Block in Northbrook, Illinois. He has been an attorney for more than 35 years and practices in the areas of business formation, mergers and acquisitions, not-for-profit organizations, private foundations, equity financing, tax law, and the preparation and negotiation of corporate and technology contracts. Mr. Block has lectured to various professional groups on matters related to limited liability companies, partnerships, business transactions, S-corporations, and tax exempt organizations. He is a former adjunct professor of business planning and partnership law at DePaul University. Mr. Block is also a commercial mediator and a member of the Association of Attorney Mediators. He earned his B.S. degree from the Wharton School of Finance and Commerce at the University of Pennsylvania and his J.D. degree from DePaul University College of Law.

James A Borchers is the founder of InNovare Law LC, where his practice focuses on small business, commercial transactions, real estate, franchising and estate planning. Mr. Borchers has taught limited liability company issues and drafting for The Missouri Bar and Natinal Business Institute. He also teaches classes at the St. Charles Community College on starting your own business, and serves as a mentor for various entrepreneur communities in the St. Louis area. He is dedicated to helping attorneys recognize that LLCs are not corporations in LLC clothing. Mr. Borchers is active in various American Bar Association and The Missouri Bar committees relating to small business and estate planning. He earned his B.A. degree from Valparaiso University, his J.D. degree from Gonzaga University and his LL.M. degree in taxation from Washington University St. Louis.

Imants F Holmquist is an attorney with the law firm of Holmquist + Gardiner, PLLC, where he practices in the areas of commercial transactions and general business law. Mr. Holmquist regularly represents clients in real estate matters ranging from development to commercial and residential purchase and sale agreements. He earned his B.S. degree in International Studies from the University of Washington and his J.D. degree from Seattle University School of Law. Mr. Holmquist is a member of the Washington State Bar Association.