Do you have an Operating Agreement?

There are many sites that lure individuals and provide easy ways to establish LLCs. Do these sites actually give you legal advice? Can you talk with an Ohio attorney (someone actually located in Ohio). With a multi-member LLC, the members should always, and I repeat always, prepare and enter into an Operating Agreement signed by all the members. The more detailed the better. This document will save you and will act as a framework for your entity. It should establish, or help establish, some of the rules that members will abide by. Ask your fellow member such things as what happens when we disagree on an important decision? How does this get decided? What happens if one member wants out of the LLC? These are just a few of the questions that you should consider. A properly drafted and executed agreement will save you later on!

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