Business Planning in Arizona
What is Business Planning?
As business owners, we’re focused on growing profitable businesses by helping others achieve their goals using our products and services. But most of us don’t invest the time and effort needed to ensure that our LLCs and Corporations in Arizona will protect us in the event of a problem. In fact, it has been estimated that more than 90% of existing entities will FAIL to protect their owners in the event of a lawsuit or an IRS audit. Why?
Simply because the majority of entities are not properly documented and administered. They are ‘out of compliance’ with the rules that require us to keep and maintain certain company records, such as Bylaws, Operating Agreements and Meeting Minutes. If we don’t give ourselves written permission to take action on behalf of our entities, we run the risk of letting adversaries ‘pierce the corporate veil’ that separates us from our businesses and our business assets from our personal assets, and make us personally liable for the actions of the company. Not a good thing!
Business owners, real estate investors, and entrepreneurs now have easy access to business planning staples such as LLCs, Corporations, Partnerships and Buy/Sell Agreements. Others may want Qualified and Charitable solutions designed to help mitigate taxes and protect their assets. Life Planning Inc. can also help you with these business planning documents below.
Here's How Your Business Planning Documents Work:
Articles of Organization - Expedited Filing
Filed with Corporation Commission; creating the LLC; lists the Members
Publication of Articles
Articles of Organization must be published 3x to complete the business entity creation process
Operating Agreement
Operating Agreement spells out the rights and duties of participants; voting procedures; share of profits and losses; sale/transfer of interests
Organizational Meeting Minutes
Initial meeting of members and managers; breathes life into the LLC; managers can take certain actions on behalf of the LLC
Bank Resolutions, EIN application
A safety net for assets that have been left out of the Trust; allows Executor to ‘pour over’ into the Trust any forgotten assets
Member,
Manger
Ledgers
The document that provides a complete record of the names and addresses of Members and Managers in your business
Ownership Interest Ledger & Certificates
Letters to banks, brokerage, insurance companies requesting the transfer of ownership or beneficiary designation to the Trust
Buy
Sell
Agreements
Legally binding contracts that transfer Real Estate into Trust; It also transfers LLC and Corporate ownership interests into Trust