Are these reasonable fees & terms for a lawyer to help with LLC?

[quincy]

Bite me quincy.
Signed, A Well established Professional Attorney With a Great Reputation who is contacted by attorneys in big offices all the time for advice and I work from Home.

I don't bite.

 

[Ohiogal]

Well... comment not nice.

 

[quincy]

Well... comment not nice.

I tried to qualify my response. I guess I didn't qualify it enough.

 

[LdiJ]

Although I agree that creating an LLC can be done without legal assistance, it can be a big mistake to do so.

I agree if there is going to be more than one member. If there is more than one member all of that detail that the attorney intends to do is really necessary. However, if it's just going to be the OP, then a lot of it is unnecessary, at least until the time that the OP wants to add members.

If the Certificate of Formation can be done online then ascertaining name availability would likely be part of that. Then obtaining an EIN can be done online at irs.gov (at least after the shutdown is over, that tool might not be available now) and that is pretty much all that would be necessary for a single member LLC. Again, when/if the time comes where he wants to add members he would need all of the other things that the attorney mentioned, but that is an expense that could be deferred until that time.

 

[quincy]

Sure. All of this can be done without the assistance of an attorney. I think whenever someone is starting a new business, it is smartest to have an attorney's guidance.

 

[LdiJ]

Sure. All of this can be done without the assistance of an attorney. I think whenever someone is starting a new business, it is smartest to have an attorney's guidance.

We will have to agree to disagree on that one. Unless the business itself has lots of legal ins and outs to deal with I do not think that someone needs to spend that kind of money when they are just starting out. Again, unless its a multiple member or multiple shareholder situation. In that case, everything has to be sewn up very tightly so a lawyer really is needed.

 

[Pipan]

Thanks LdiJ.
I agree with you about filing for an LLC and getting EIN for a 1-member LLC, and I have done it already registered my business in another state last year. Now that I want to operate in our own state (TX), I am trying to consider all aspects.
My wife is going to contribute to the business significantly, but because our business model is referring people to the businesses with my wife's background (in healthcare), it might be unethical for her to get directly involved in, as a member of the company. In that case I may bring her on board as a consultant, if still okay. This is something that I don't know yet and I am hoping that a lawyer can answer me, or at least dig that for me.

 

[LdiJ]

Thanks LdiJ.
I agree with you about filing for an LLC and getting EIN for a 1-member LLC, and I have done it already registered my business in another state last year. Now that I want to operate in our own state (TX), I am trying to consider all aspects.
My wife is going to contribute to the business significantly, but because our business model is referring people to the businesses with my wife's background (in healthcare), it might be unethical for her to get directly involved in, as a member of the company. In that case I may bring her on board as a consultant, if still okay. This is something that I don't know yet and I am hoping that a lawyer can answer me, or at least dig that for me.

There is no reason (on your end) why your wife could not be a consultant for your business. If a problem is going to exist, it would possibly be on her end. She should talk to her employers about what you are proposing.

 

[Pipan]

As I said in the above post, if it is unethical for my wife to be a member of the business, she may work as a consultant. On the other hand, Texas a community property law. Does this mean that my wife should be automatically member of the company, and as a result unethical issue hang around despite our intention?

 

[LdiJ]

As I said in the above post, if it is unethical for my wife to be a member of the business, she may work as a consultant. On the other hand, Texas a community property law. Does this mean that my wife should be automatically member of the company, and as a result unethical issue hang around despite our intention?

No, the community property issue would not make your wife a member of the company. It would give her some equity rights if the two of you were to divorce, but it would not make her a member of the company for ethical purposes. Again, she needs to consult her employer.

 

[Pipan]

There is no reason (on your end) why your wife could not be a consultant for your business. If a problem is going to exist, it would possibly be on her end. She should talk to her employers about what you are proposing.

Assume that she does not have employer and she has her own separate business. But still if she involves in my company, which offer services to people in her profession, it might be unethical. And of course it does not matter if the issue is on my end or hers, as it will affect out family.

 

[Pipan]

No, the community property issue would not make your wife a member of the company. It would give her some equity rights if the two of you were to divorce, but it would not make her a member of the company for ethical purposes. Again, she needs to consult her employer.

Thanks LdiJ. She doesn't have a lawyer.

 

[LdiJ]

Assume that she does not have employer and she has her own separate business. But still if she involves in my company, which offer services to people in her profession, it might be unethical. And of course it does not matter if the issue is on my end or hers, as it will affect out family.

Then SHE needs to consult an attorney of her own. The devil will be in the details.

 

[quincy]

As I said in the above post, if it is unethical for my wife to be a member of the business, she may work as a consultant. On the other hand, Texas a community property law. Does this mean that my wife should be automatically member of the company, and as a result unethical issue hang around despite our intention?

You really should discuss this with the attorney you hire.

There are good reasons to have legal assistance when starting any business, despite what was said by another poster. The description of your proposed plans makes an attorney's advice and direction important.

 

[Pipan]

Then SHE needs to consult an attorney of her own. The devil will be in the details.

We will. Thanks.