Legal Question in Business Law in Illinois

Re: One partner out of LLC

Mr. Moens is correct. If your limited liability company has rather significant assets to which you have a claim or significant debts from which you want to shield yourself, you would need counsel to help draft documents to protect your interests.

In the absence of reaching an agreement with the other member of the LLC, you would need someone versed in the Limited Liability Company Act to give advice as to the consequences if no agreement is reachable.

Please feel free to check out my firm's website in this regard, should you desire.

-- Kenneth J. Ashman; www.AshmanLawOffices.com; [email protected]

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Re: One partner out of LLC

You need to contact an attorney. This website is designed more for asking questions of a general legal nature. You have some specific items which need to be done in a rather short amount of time. If the money you're talking about is significant, you need to have someone in your area assist you with this.