The best way to protect your wealth from the shares of a single LLC member is to keep everything separate. It`s simple. Pay for personal things with your personal money. If the Single Member LLC has expenses, the single member LLC pays those expenses to the single member LLC current account. Yes. The term individual member refers only to the fact that they are 1 owner. There can be as many employees as the owner wants. Many states have a standard rule for the percentage of votes, which can normally be changed in the company agreement. A lawyer can help you determine the appropriate percentage for your specific situation. The objective can be indicated broadly or narrowly. The Memorandum of Understanding may define the parameters of fiduciary duty for members. A lawyer can help you draft a statement of intent tailored to your limited liability company and your specific situation.. .
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