The questions that matter
More than 100 core questions, plus a deeper set when you want to go further. Here's a taste.
You each answer on your own. Neither of you sees the other's answer until you've both answered — then you see where you stand and agree on one wording together.
Capital Contributions
Who puts in what — cash, equipment, time, relationships.
- What types of value will this member contribute when joining the company?
- How much cash will this member contribute initially?
- What property or equipment will this member contribute?
Distributions
When money comes out, and how it's split.
- What overall approach should the company use for distributions to members?
- If the policy includes scheduled distributions, how often should the company evaluate and make them?
- What custom distribution schedule should apply?
Management & Voting
Who decides what, and what needs everyone's yes.
- Which governance structure should the LLC use for management authority?
- If designated managers will govern, may managers be members, non-members, or either?
- Who should serve as the initial manager or managers, or on the initial governing body?
Transfers & Buy-Sell
What happens if someone wants to sell or bring someone in.
- What general rule should apply before a member may transfer any part of an ownership interest?
- Which estate-planning or family transfers should be permitted without the ordinary sale-consent process, subject to stated safeguards?
- Until formally admitted as a member, should a transferee receive only the transferred economic rights and no management or voting rights?
Dissociation & Exit
Leaving, retiring, or the things nobody likes to think about.
- May a member voluntarily withdraw and require an exit process while the company continues?
- How many days’ written notice should a member give before a permitted voluntary withdrawal becomes effective?
- When a member dies, what should happen to that member’s interest while the company continues?
Dissolution & Winding Up
If you ever decide to close, how it works.
- What member approval should be required to voluntarily dissolve the company before any fixed or project endpoint?
- If the company has a fixed date or project-completion term, what should happen when that endpoint arrives?
- How should the agreement address dissolution required by law, administrative action, or a final judicial order?
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