Mastering LLCs: Crafting Robust Operating Agreements and Navigating Veil Piercing

Brandon Schwartz | Schwartz Law Firm

Brandon is a cum laude graduate of William Mitchell College of Law; graduating in the top 10 students in his class following his Division I and professional hockey career. Brandon is admitted to practice in the States Courts of Arizona, Iowa, Massachusetts, Minnesota and Wisconsin and the Federal District Courts of Colorado, Iowa, Massachusetts, Minnesota and Wisconsin as well as the United States Supreme Court.

He has been published in Attorney At Law Magazine, by the Minnesota State Bar Association, by the American Bar Association and Michigan Bar Journal. Brandon was selected as a Minnesota Super Lawyer Rising Star and is a life time member of the Million Dollar Advocates Forum and the Multi-Million Dollar Advocates Forum; fewer than 1% of U.S. lawyers are members. Brandon is a Board Certified Civil Trial Law Specialist by the Minnesota State Bar Association and a Board Certified Civil Trial Law Advocate and Family Trial Law Advocate by the National Board of Civil Advocacy. Minnesota Monthly selected him as a Top Lawyer in Business Litigation for 2022. America’s Top 100 Attorneys presented him with a Lifetime Achievement award, the High Stakes Litigators award, and the Bet-The Company Litigators award. Best Attorneys of America awarded him a Lifetime Membership. Brandon is also AV rated, the highest rating possible, by Martindale-Hubbell.

Brandon also serves as a Board Member on the Minnesota Supreme Court Advisory Committee on the General Rules of Practice for the District Court, the Board of Legal Certification, and the Minnesota State Bar Association Foundation Board as a director and officer.

I. Understanding LLCs and Operating Agreements | 1:00pm – 1:30pm

• Synopsis of Limited Liability Companies (LLCs)
• Importance of operating agreements in defining the structure and operations of LLCs
• Key components of an operating agreement

II. Drafting Effective Operating Agreements | 1:30pm – 2:00pm

• Essential clauses to include in operating agreements
• Customizing agreements for single-member vs. multi-member LLCs
• Common pitfalls and how to avoid them

Break | 2:00pm – 2:10pm

III. Asset Protection and Liability | 2:10pm – 2:40pm

• Strategies for protecting personal assets through LLCs
• Understanding the concept of “piercing the corporate veil”
• Factors that courts consider when deciding to pierce the LLC veil

IV. Maintaining Proper Separation | 2:40pm – 3:10pm

• Importance of maintaining a clear distinction between personal and business assets
• Best practices for ensuring compliance and avoiding personal liability
• Role of proper documentation and record-keeping