Atlanta, GA · Member since 2017 · 130 posts · 29 votes
I am wishing to add a member to my existing single-member LLC in Georgia. Me and a local partner are teaming up to purchase, renovate, and sell homes (revolutionary!). We plan to split any profits or losses 50/50 — keep it black and white. This requires an Amendment to my current LLC. My question is: should I seek legal assistance or will drafting our own simple Articles of Organization/Operating Agreement suffice?
I'd seek legal advice simply because you're dealing with a 50/50 partner. I think having someone discuss the "what ifs" is a big advantage of someone who forms LLCs for a living; I think the actual technical formation/Operating Agreement work is less important (in that it's more important to know what to put in the OA vs. how to file it and such).