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Adding a New Member to an LLC (teleseminar)
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When: 05/11/2016
1:00 PM to 2:00 PM
Where: United States
Contact: (404) 521-0781

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One-hour CLE programs are just a phone call away
Convenient, affordable, timely and informative
An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.

1 CLE hour
Admitting a new member to an LLC or a partner to a partnership is a complex matter.  Substantial voting, financial and tax consequences depend on whether the LLC or partnership is issuing a new interesting to the incoming member or the incoming member acquired his or her interest by buying it from an existing member.  A lot also depends on what type of asset – capital, property, or services – the incoming member contributes to the entity and what type of interest – a capital interest with liquidation rights or a profits interest – the incoming member receives.  There are also substantial issues of whether the incoming member acquires only economic rights or voting and other rights, too. This program will provide you with a practical guide to the practical process and consequences of admitting a new member or partnership or an LLC or partnership.

Admission of new members/partners by issuing a new interests v. sale of interest by existing member/partner to a buyer
Understanding the differences between succeeding to economic rights v. voting and other rights
Tax consequences of each type of admission on the entity, the new member and the departing member
Contributions of capital v. services by the new member to the entity
Receipt by the new member of capital v. profits interests 
Operating v. investment assets: What type of assets does the entity have?


Allen Sparkman
is a partner in the Houston and Denver offices of Sparkman Foote, LLP.  He has practiced law for over forty years in the areas of estate, tax, business, insurance, asset protection, and charitable giving.  He has written and lectured extensively on choice-of-entity, charitable giving and estate planning topics.  He is the Colorado reporter for the books "State Limited Partnership Laws" and "State Limited Liability Company Laws," both published by Aspen Law & Business.  He has also served as president of the Rocky Mountain Estate Planning Council.  Mr. Sparkman received his A.B. with honors from Princeton University and his J.D. with high honors from the University of Texas School of Law.

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