Sat 28 Jan 2017 | By:

LawDepot LLC Operating Agreement Template Review

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One of the first steps in creating your business is sorting out logistics and legal matters. Fortunately there are services out there that take the hassle out of finding an attorney, paying hefty legal fees and sifting through the corporate mumbo jumbo.

Today we’ll be looking at LawDepot, who offers a convenient template designed to help you get your articles of incorporation, member meeting minutes, partnership forms and more. To save you the hassle of weeding through user reviews, we’ll walk through the basics of using their templates, pros and cons of the platform and what you can expect from the service.

A Few Pros & Cons

Pros

  1. Easy to Master: LawDepot has dozens of simple questionnaires that are a breeze to fill out.

  2. Design: Their platform is built with the basics in mind, so it’s a great resource for those just getting the hang of internet business practices or aren’t yet tech wizards.  

  3. Secure: LawDepot keeps all your documents safely stored in a single location so you never have to worry.  

  4. Safe: With a $10,000 legal guarantee and a 100% money back guarantee on any and all forms created through their platform, you can breathe easy.  

  5. Informative: Brand new? LawDepot provides a substantial amount of information on the basics of building up your business.  

Cons

  1. Comparability: While they do offer a significant legal guarantee, at the end of the day, super-customized, expertly prepared documentation reviewed by an attorney still takes the cake.

  2. Risky: LawDepot doesn’t provide access to legal professionals, unlike it’s competitors.  It’s highly recommended that you have all documentation looked over by a legal professional, so unless you’re well-versed yourself, or having another look over it, you’re taking a bit of a risk.  

  3. Lacking: There’s some great information available for beginners, but afterwards, LawDepot lacks a large array of sophisticated legal information.

Template Pricing & How It Works

How Does it Work?

To put it simply, LawDepot is an online platform that provides legal documents for those of us who aren’t yet fluent in corporate legalese.  They provide templates for some of the most popular types of legal documentation, including LLC Operating Agreements, that allow you to create up to date documentation in minutes.

LawDepot Corporate Meeting Minutes Process

To get started, select the type of document you wish to create.  LawDepot’s platform will then present you with a series of multiple choice, yes or no, and fill in the blank questions for you to complete.

LawDepot LLC Operating Agreement Sections

Still need to get the last few little details? No need to worry, as LawDepot makes it easy to save changes along the way, alternate back and forth between sections and edit as you go.  Your documents will always be stored safely so you can update agreements as new information surfaces.

LawDepot LLC Operating Agreement MEmbership Section

 

How Does it Compare?

When using an online documentation service to prepare your LLC Operating Agreement, it’s important to not go in blind.  With LawDepot, there are several impressive features included, along with some not so impressive ones to look out for. But, if you’re aware of the couple pitfalls of this program, and you’re just starting out, LawDepot can be an exceptional option for you.  

LawDepot Guarantees

As we mentioned in our round up of the pros and cons, LawDepot is committed to their $10,000 legal guarantee.  Should you run into trouble with the validity of your documents, LawDepot will cover any fees to clean up the mess.  Besides this, they also include a quality guarantee, so you can be sure you’re getting the best they offer.

Additionally, they also offer several options in you’re in need of technical support while creating your operating agreements.

LawDepot Customer Support Options

They’ve been in the business since 2001 and still remain committed to bring their customers the best in customer support and legal documentation.

That being said, there’s a considerable difference between using an online service and a qualified attorney.  A word to the wise, if you have the funds to hire an attorney, do it.  Bringing in a professional with years of experience and the ability to customize your operating agreement is highly recommended.

But, if those resources are not currently available to you, you’re working within a strict budget, or are already fluent in the formal language, LawDepot can be an excellent resource.  Services like this can be huge time savers when used properly, and suit a lot of busy professionals.

 

How Do I Sign Up?

LawDepot allows you to create your first document without the hassle of creating an account right off the bat. They’ll even save your information so you can pick up where you left off, as long as you don’t close the window.

LawDepot LLC Operating Agreement Pricing

Once you’ve created your LLC Operating Agreements and you want to print/download, it’s time to create an account.  Signing up is pretty painless, and after you’ve filled out the majority of the required fields, LawDepot provides two different options.

  1. If you’re looking to create and print your LLC Operating Agreement, you can choose to pay $26.95 upfront.  But be aware… this option is only available for two weeks.
  2. For a more all-inclusive package, you can try their whole program for 7 days. This includes any and all documents you may need in addition to operating agreements. But, if you’re not quite ready for a monthly subscription, keep a close eye on your calendar.  After seven days, you’ll be billed $33 for the following month.  

As a whole, LawDepot can be great for a few specific uses, but it’s not a completely foolproof system.  If you have someone who can look over the documents, or you yourself are well-versed in corporate legalities, LawDepot can be a easy, quick resource to keep on hand.  

In addition, if you’re just starting out and are looking for the beginner’s basics, LawDepot’s platform is super-easy to use and provides all the documents you may need.  If this sounds like you, signup and start creating your legal documents today!

 

Work with an attorney instead?

Choose a Registered Agent

Absolutely. If you can afford your own attorney, then that’s an ideal way to go. No doubt. If you can’t afford a good attorney and have no access to legitimate legal advice or you’re somewhat familiar with business formalities in terms of documents/contracts like operating agreements, then consider providers like LawDepot. Just be forewarned that 100% DIY business is risky in our ultra-litigious society!

But LawDepot can definitely be a big time saver; convenient. There are so many circumstances where having to get hard copies is a nightmare, both personal and business forms. And, yeah, attorneys charge more to draft/review them as well.

Disclaimer: This review is not to be considered legal advice. Also, some of the links in this review are affiliate links and we earn a small commission if you decide to use them, allowing us to invest hours of research into every review – so you don’t have to.

Is the Template Right For You?

Maybe, unless you require more extensive features and legal assistance. So listen, there are two links below this paragraph. One whisks you over to LawDepot.com where you can grab an LLC operating agreement template. The other takes you to an article where we’ll introduce two other providers of corporate/business/personal forms and online legal services. Cheers!

Visit LawDepot Or Visit Other Options