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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 24870
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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I am planing to register an LLC corporation in the state of

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I am planing to register an LLC corporation in the state of DE. I know that I need at least 2 people to be partners/ owners to register LLC. I dont have a partner but I wanted to put my children who are minors (giving them 1% each of the company also filing a statement of authority with the state specifying which agents for the LLC have the power to bind the business to contracts and then exclude the children from that statement. ) My question is: can I partner with a trust (not a person) to form LLC , where I am an owner of the trust and children are the beneficiaries? Is it a good idea or not? Also are there other ways of going about forming LLC in my situation? Please advise. Thank you Alina

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With a Delaware LLC, formalities such as minutes, board meetings, drafting bylaws, corporate resolutions, the issuing of shares of stock, appointing officers and directors are all eliminated. Ownership, operations and management of the LLC are governed by a written agreement among its owners that is not required to be publicly filed or disclosed to the Delaware Division of Corporations, making the LLC very easy to operate and maintain. By eliminating the formalities that come along with a corporation, the Delaware LLC now accounts for 70% of all the new entities created with the State of Delaware Division of Corporations.

You don't have to list who is the owners of the LLC are and only need 1 owner - that can be you individually.

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