Recent News

One of the features of Washington’s new LLC Act is a clarification of the fiduciary duties owed by members and managers. The Act provides that the only fiduciary duties members of a member- managed LLC and a manager of a manager-managed LLC are the duties of loyalty and care. Members in a manager-managed LLC do… Read More

Businesses have life cycles: birth (formation), life (operation), and death (liquidation and winding up). Many business owners form a limited liability company (“LLC”) by filing a Certificate of Formation, but fail to complete the necessary structuring of the LLC to maximize the benefits of LLC. When utilized properly, the flexibility the LLC offers coupled with… Read More

In Washington State, as with most states, LLC members hold certain rights deriving from statute as well as contract rights.  Most all of the rights identified in our LLC Act, RCW 25.15 (the “Act”) are subject to modification by agreement.  In the absences of an agreement to the contrary, members of LLCs, pursuant to the… Read More

We Are a Primerus Firm For many years Beresford Booth has held a membership in Primerus, an international society of independent law firms.  Such an honor does not come easily, nor is it something our firm takes lightly: earning a Primerus membership requires a consistent commitment to excellence. As a Primerus firm, we hold connections… Read More

What is an annual report? An annual report is the yearly document your LLC submits to the Washington Secretary of State.  The annual report notifies the Secretary of State about relevant information pertaining to your LLC like the name, principal office location, registered agent, and nature of the LLC’s business.  The Secretary of State requires… Read More

All limited liability companies embark upon journeys of varying length, activity, and consequence. Eventually, LLCs reach their journeys end and require dissolution. The process of dissolution and the time dissolution requires is different for every LLC, but what really happens with an LLC upon dissolution? Dissolution LLCs dissolve for a multitude of reasons. For example,… Read More

Most closely held business owners are not familiar with the process associated with buying or selling a business. The process is comprised of four general steps: conversation, letter of intent, definitive documentation and closing. Conversation The first step in the process is the initial conversation between the buyer and the seller.  A simple conversation can… Read More

Beresford Booth lawyer David C. Tingstad was recently appointed by the Washington State Bar Association as Chairman of the Practice Primer Business Law Series. The WSBA Practice Primer is a continuing legal education program that takes a substantive area of law and develops a series of learning tracks that build upon one another. Completion of… Read More

Advanced LLC Issues is presented by the National Business Institute on Monday, September 25, 2017, at the Washington State Convention Center in Seattle, WA. Are you prepared to handle the advanced questions and issues your clients may have regarding LLCs? This information packed program goes beyond the basics of establishing and operating an LLC, and… Read More