Many small business owners form a single-member LLC because it is simple, flexible, and provides personal liability protection. However, too often, they overlook one of the most important documents for their LLC: the Operating Agreement. Without an Operating Agreement, it is easier for someone to argue that your LLC is a “sham” or an “alter ego.” An operating agreement strengthens the shield that protects your personal savings, home, and other assets from business risks.

Whether a trust or an LLC is a better choice may depend on the type of asset, but you do not necessarily have to choose between the two.

Having an operating agreement can provide your business with many benefits and can help you avoid significant problems.

The failure to plan could result in the eventual loss of the business. There are several factors you should keep in mind in making plans fo

No matter what states/jurisdictions you are in, however, it is always a good idea to create a formal, written operating agreement—even for a