What to do to dissolve your LLC

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How to dissolve your LLC by David Tingstad of Beresford Booth PLLC in Edmonds Wasington (425) 776-4100 and Ashley Wicks of Jones Walker in Jackson, Mississippi. For more information please contact David Tingstad (425) 835-3412.

Business

So its over…..

What to do to Dissolve your LLC

David C. Tingstad
of Beresford Booth PLLC in Edmonds, Washington
Ashley Wicks
of Jones Walker in Jackson, Mississippi

So its over…...What to do to Dissolve your LLC

Member

Money

LLC

Member

Service

BERESFORD♦BOOTH PLLC
LAWYERS

So its over…...What to do to Dissolve your LLC
TRIGGERING EVENTS FOR DISSOLUTION

Deadlock

Terms of LLC
Agreement

Involuntary

Administrative

Death of
Member

Bankruptcy
of Member
BERESFORD♦BOOTH PLLC
LAWYERS

So its over…...What to do to Dissolve your LLC
TRIGGERING EVENTS FOR DISSOLUTION
Member

Member

Deadlock

LLC
BERESFORD♦BOOTH PLLC
LAWYERS

So its over…...What to do to Dissolve your LLC
TRIGGERING EVENTS FOR DISSOLUTION
Involuntary

Member

Member
Bankruptcy
of Member

Death of
Member

LLC

So its over…...What to do to Dissolve your LLC
TRIGGERING EVENTS FOR DISSOLUTION

Member

Member

Terms of LLC
Agreement

LLC
BERESFORD♦BOOTH PLLC
LAWYERS

So its over…...What to do to Dissolve your LLC
TRIGGERING EVENTS FOR DISSOLUTION

Member

Member

Administrative

LLC

BERESFORD♦BOOTH PLLC
LAWYERS

So its over…...What to do to Dissolve your LLC
WINDING UP

What?

Dissolution does not terminate the existence of an LLC.
Rather, the LLC’s status is converted from that of “a
going concern” to one that is “winding up” its affairs and
ceasing its operations.

BERESFORD♦BOOTH PLLC
LAWYERS

So its over…...What to do to Dissolve your LLC
WINDING UP

Who?
The LLC’s manager, member and/or creditor/assignee
typically completes the winding up process.

So its over…...What to do to Dissolve your LLC
WINDING UP

How?
The primary function of winding up is to make
reasonable provision for the LLC’s liabilities and to
distribute to the members any remaining assets of the
LLC.

So its over…...What to do to Dissolve your LLC
WINDING UP

When?
Winding up is completed when all debts, liabilities, and
obligations of the LLC have been paid, or a reasonable
adequate provision is made for them, and all remaining
property has been distributed to the LLC members.

So its over…..

What to do to Dissolve your LLC

BERESFORD♦BOOTH PLLC
LAWYERS

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1. So its over….. What to do to Dissolve your LLC David C. Tingstad of Beresford Booth PLLC in Edmonds, Washington Ashley Wicks of Jones Walker in Jackson, Mississippi

2. So its over…...What to do to Dissolve your LLC Member Money LLC Member Service BERESFORD♦BOOTH PLLC LAWYERS

3. So its over…...What to do to Dissolve your LLC TRIGGERING EVENTS FOR DISSOLUTION Deadlock Terms of LLC Agreement Involuntary Administrative Death of Member Bankruptcy of Member BERESFORD♦BOOTH PLLC LAWYERS

4. So its over…...What to do to Dissolve your LLC TRIGGERING EVENTS FOR DISSOLUTION Member Member Deadlock LLC BERESFORD♦BOOTH PLLC LAWYERS

5. So its over…...What to do to Dissolve your LLC TRIGGERING EVENTS FOR DISSOLUTION Involuntary Member Member Bankruptcy of Member Death of Member LLC

6. So its over…...What to do to Dissolve your LLC TRIGGERING EVENTS FOR DISSOLUTION Member Member Terms of LLC Agreement LLC BERESFORD♦BOOTH PLLC LAWYERS

7. So its over…...What to do to Dissolve your LLC TRIGGERING EVENTS FOR DISSOLUTION Member Member Administrative LLC BERESFORD♦BOOTH PLLC LAWYERS

8. So its over…...What to do to Dissolve your LLC WINDING UP What? Dissolution does not terminate the existence of an LLC. Rather, the LLC’s status is converted from that of “a going concern” to one that is “winding up” its affairs and ceasing its operations. BERESFORD♦BOOTH PLLC LAWYERS

9. So its over…...What to do to Dissolve your LLC WINDING UP Who? The LLC’s manager, member and/or creditor/assignee typically completes the winding up process.

10. So its over…...What to do to Dissolve your LLC WINDING UP How? The primary function of winding up is to make reasonable provision for the LLC’s liabilities and to distribute to the members any remaining assets of the LLC.

11. So its over…...What to do to Dissolve your LLC WINDING UP When? Winding up is completed when all debts, liabilities, and obligations of the LLC have been paid, or a reasonable adequate provision is made for them, and all remaining property has been distributed to the LLC members.

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