Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, December 11, 2019

CLE on New LLC Rules You Need to Know

CLEThe National Business Institute is presenting a video webcast entitled, New LLC Rules You Need to Know, on Friday, December 27, 2019 from 9:00 a.m. to 4:00 p.m. Central. Provided below is a description of the event.

Program Description

Get Up to Date on LLC Changes and Avoid Costly Missteps

Are your clients ready? Are you ready? Existing operating agreements will need to be updated and new operating agreements will need to comply. The new rules and regs affect numerous major provisions in the LLC operating agreement such as fiduciary duties, new default provisions, distributions and indemnification. Join us as our expert faculty brings you up to speed on the latest developments and teaches best practices for drafting and reviewing operating agreements. Register today!

    • Review substantial changes to LLC definitions and requirements.
    • Study the timeline of changes, limitations and entities affected.
    • Explore managers' and members' rights and authority.
    • Determine which fiduciary duties should be modified to fit the needs of clients.
    • Understand the new rights of judgment creditors and how they can foreclose on an interest.

Who Should Attend

This informative course is designed for attorneys. Accountants may also benefit.

Course Content

    • H.R. 1, the Tax Cuts and Jobs Act and Other Recent Case Law on LLCs
    • Timeline of Changes, Limitations and Entities Affected
    • What Entity Should You Choose to Receive These New Tax Breaks?
    • Qualifying for the New Deduction; New Ways to Calculate Deductions - Case Example
    • Pass-Through Entity Provisions vs. Lower C Corporation Rates
    • The New Partnership Audit Rules and New Tax Law as it Relates to Partnerships
    • Managers and Members and Fiduciaries: Changes to Rights, Roles and Authority
    • Substantial Changes to Definitions and Requirements
    • Operating Agreements: How the Scope, Function and Limitations Have Changed
    • LLC Formation and Operating Procedures/Requirements: Changes Attorneys Need to Know
    • Ethical Considerations

https://lawprofessors.typepad.com/trusts_estates_prof/2019/12/cle-on-.html

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