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I will draft llc member withdrawal and buyout clauses
Licensed US Attorney, Premium LLC and Business Law Solutions
I am Thomas Ryan Krause, Esq. (Bar #318194), a licensed U.S. attorney specializing in corporate law, LLC governance, and business contracts. With extensive experience drafting complex legal documents,...
About this Gig
What happens if your business partner wants out, gets divorced, or suddenly passes away? Without clearly defined withdrawal and buyout provisions, their shares could end up in the hands of their spouse, a bankruptcy trustee, or a complete stranger.
As a licensed U.S. attorney (Bar #318194), I specialize in drafting airtight business exit strategies. I will secure your LLC by creating comprehensive buyout (buy-sell) provisions that protect the remaining members and clearly define how departing equity is handled.
My custom drafting includes:
- Right of First Refusal (ROFR)
- Triggering events (Death, Disability, Divorce, Bankruptcy, Termination)
- Mandatory vs. Optional Buyout rights
- Precise valuation methodologies (e.g., Book Value, Appraised Value, Multiple of EBITDA)
- Payment terms (Lump sum vs. Promissory note)
Do not leave your companys future to chance or default state laws. Secure your equity today with premium legal drafting. Reach out via Fiverr messages with your business details to get started.
Legal consulting Gigs are not screened
Please note that there is no screening process for this service. We recommend that you message the freelancer and check all necessary details before placing your order. Pro freelancers in this category have gone through a vetting process. You can find more details here.
FAQ
What is a Right of First Refusal (ROFR)?
It ensures that before a member can sell their shares to an outside party, they must first offer them to the company or the existing members at the same price.
Why do I need a clause for divorce?
If a member gets divorced, a family court judge could award half of their LLC shares to their ex-spouse. A proper buyout clause prevents this.
How do we determine the price of the shares?
I will draft a valuation formula of your choice—such as a fixed agreed price, an independent appraisal process, or a formula based on revenue.
Can we dictate how the buyout is paid?
Yes. To prevent bankrupting the LLC, I can draft terms that allow the company to pay the departing member over a period of years via a promissory note.
Are these clauses legally binding?
Yes, when drafted properly by a licensed attorney and signed by the members, these provisions form a legally binding contract.
