Lee R. Schroeder is an Ohio licensed attorney with Schroeder Law LLC in Ottawa. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at [email protected] or at (419) 523-5523. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.
It’s often difficult to offer a value to the protection gained from certain legal tools such as an LLC. The actual cost of an LLC includes the $99 filing fee, a detailed operating agreement and the cost associated with creating that, a tax identification number and flowcharts and explanations on how to manage the LLC. An LLC also needs to be funded with assets. In northwest Ohio, establishing an LLC typically costs between $400 and $4,000.
Attorneys are usually talented at identifying the legal benefits of various legal documents and tools, including limited liability companies (LLCs). However, every investment needs to be considered with its corresponding cost.
A struggle in the context of legal documents and tools is that the value of protection from the unknown is difficult to compare to objective costs in dollars and cents. In other words, the value of legal tools is often measured in apples, while cost of legal tools can be measured in oranges.
Read more about establishing an LLC and the costs associated with an LLC in Lee’s article in the Lima News here: Legal-Ease: How much does an LLC cost?
Source: LimaOhio.com, “Legal-Ease: How much does an LLC cost?” by Lee R. Schroeder, August 13, 2016