LLC/Inc – How did you set up yours?

[Alex-R]

Thanks Freelancier and MakingItNow. I appreciate the help.

I've decided to go with doing it myself and go with LLC because of additional liability shield over DBA/Sole Prop. Thank you for everyone's feedback.

[David Hunter]

I know a lawyer who did it for me. Though, the form was on the state website and I could have done it myself, it was nice having a lawyer make sure I filled it out correctly.

[Business Attorney]

Once you have weighed the factors and decided to set up a single member LLC, it is so easy to set up in most states that unless you have some special issues (highly unlikely), you should just go online and do it. A lawyer might be helpful if you are uncertain which entity to use, but to hire someone just to fill in the blanks for you doesn't make much sense unless your time is more valuable than the extra cost. And you aren't even saving that much time because you must still take the time to provide the attorney or online service with the same information you would be providing to the secretary of state.

A lawyer might also give you some personal guidance on avoiding problems with your LLC liability shield by making sure that you adequately capitalize the LLC, that you always properly identify the LLC when dealing with third parties, and that you are careful to avoid commingling your personal assets with the assets of the LLC. But you can find that guidance in plenty of places online if you spend the time looking for it.

Obviously, as soon as you introduce a second owner into the mix, there are a myriad of issues that need to be addressed, so at that point you should get professional advice. But you only need to cross that bridge when you come to it.

[Alex-R]

Initially when I started I was going to go with LegalZoom. Then after reading and researching I started to lean towards going with an attorney. Then after more research and reading and these forums I got enough information to do this myself. Especially for single owned LLC, I don't think I would do this myself if I had additional members.

Hopefully if anyone else stumbles on this question, this thread can help them decide.

Thanks David.