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I'd like to look into opening an business account for an LLC…

Second opinion] I'd like...

Second opinion] I'd like to look into opening an business account for an LLC with a member that's currently incarcerated... and a personal account for the person that's incarcerated. My guess is a trust account for the personal account? and maybe it's irrelevant that one of the LLC members is incarcerated for the purpose of the business account?

Lawyer's Assistant: Can you tell me what state the LLC is registered in?

Delaware

Lawyer's Assistant: Has anything been officially filed? If so, what?

Nothing filed yet

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

There are three members of the LLC - two are minors, 1 is an adult. The adult is not a legal guardian for either of the minors.

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Answered in 1 day by:
11/12/2017
Richard - Bizlaw
Category: Business Law
Satisfied Customers: 10,751
Experience: 30 years of corporate, litigation and international law
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Hello, my name is ***** ***** I will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for.

I assume the adult is not the person incarcerated because that person would not be able to open a bank account for the LLC while being incarcerated. There is no prohibition on the LLC opening a bank account even though one of its members is incarcerated. The trust account is the proper way to create an account for the person incarcerated as they will not be able to open an account and you cannot open an account for another person.

If I have answered all your questions, please highly rate my answer as that is how I receive credit. If you have more questions, please let me know. If the answer was especially helpful you can provide a bonus.

Richard - Bizlaw
Category: Business Law
Satisfied Customers: 10,751
Experience: 30 years of corporate, litigation and international law
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Thank you for positively rating my answer. I am glad I could be of help. If you have questions in the future please ask for me Richard - Bizlaw.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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