An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. In Texas, an operating agreement isn’t required to form a ...

It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure they draft them effectively. The documents are much more than formalities and ...

An operating agreement is a foundational legal document used by limited liability companies (LLC) to outline the rules and regulations by which the company and its owner(s) will operate or function.

Forbes contributors publish independent expert analyses and insights. I cover Wealth Preservation in its legal permutations When drafting LLC operating agreements, lots of planners include clauses to ...