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Richard, Attorney
Category: Business Law
Satisfied Customers: 55605
Experience:  32 years of experience practicing law and a businessman.
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We have a Sole Proprietor carpentry business in Chicago. We

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We have a Sole Proprietor carpentry business in Chicago. We would like to reset it up as a LLC so that we can not personally be sued if something were to happen. When searching Google we came across a web application on the state of Illinois website. Is this simple application all we need to do to set our business up as an LLC? Is there anything else we need to know?

Good evening. All that needs to be done to set up an LLC is: i) File a Certificate of Formation with the Illinois Secretary of can do that online at the Secretary of State website; ii) Obtain an EIN from the IRS for the can do this online at the IRS website and get this number instantly; iii) do a Operating Agreement setting forth the agreement of the owners; and iv) open a bank account. You're ready to roll!



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Customer: replied 5 years ago.
Thank you so much! One more question..... Does it benifit us more to just have my husband as owner or should both of us be owners. Not sure if he died or we were sued which would be better?
Either way you are both going to own 1/2 of this...because anything acquired during your marriage is considered marital property. So, it really doesn't matter. You're welcome.
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