Before you sign an LLC operating agreement—or worse, copy one from the internet—there are seven critical loopholes you need to fix.
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In this video, we reveal the biggest mistakes people make with their LLCs and how to protect yourself from losing everything in a lawsuit.
Missing even one could cost you control, blow your tax allocations, or even pierce your liability shield.
You’ll hear a real story of a real estate investor who lost over $800,000 because his one-page template operating agreement failed him.
Learn how to write clear, specific clauses that strengthen your protection and keep your assets safe.
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Show Notes:
0:00 Intro
1:09 Loophole #1: Generic business purpose (and the fix)
3:04 Loophole #2: Management authority & voting clarity
6:17 Loophole #3: Capital contribution chaos (how to prevent disputes)
9:14 Loophole #4: Distribution disasters & tax implications
12:24 Loophole #5: Exit strategies & buy–sell provisions that work
14:39 Loophole #6: Tax election trap (keep OA aligned with S-corp/others)
16:44 Loophole #7: Amendments & recordkeeping that protect you
18:40 What’s at stake in court: protecting (or piercing) the veil
20:12 Your action plan: review, don’t DIY fixes, tailor to your business
23:13 Outro
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FINANCIAL PLANNING & RESOURCES
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CONTACT US
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Fax: 702.664.0545
ABOUT CLINT COONS
Clint Coons, Esq. has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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