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McKeever Legal Advisor LLC

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Forming a New Mexico LLC

Attorney Lynn McKeever and her affiliated company, Compliance New Mexico LLC, can create a chartered legal entity that can own land, business ventures, art, patents, copyrights, race horses, and just about anything. In turn the NM LLC can be owned by individuals, trusts, and other companies.  When retaining Attorney Lynn McKeever, it is possible to keep the identities of the actual company owners confidential.

Visit www.AttorneyMadeCompanies.com  for more information by clicking here.

Private Holding Companies

A personal or family LLC is becoming a popular way to hold title to assets. New Mexico's regulations compare favorably to other states.  Here are some situations where the New Mexico LLC works well:

  • High risk professions.  Doctors, architects, engineers, pilots . . . so many professions pose the threat of sudden lawsuits.  A NM LLC allows assets to be titled outside the reach of judgment creditors.
  • Professional Management.  A NM LLC can hire a skilled manager.  Even if the manager is an owner of the company, the contract can indemnify his or her good faith activities.
  • Gifting plans.  A NM LLC can belong to trusts for minors or disabled adults and income can be diverted to these lower tax bracket owners.
  • Ownership of Life Insurance. Life insurance can be purchased and owned by a NM LLC and pay out to family members or business partners.
  • Family Business Succession.  When the elders of a family want to retire from the family business, but don't want to give up either ownership or ultimate control, a NM LLC operating agreement can establish a systematic way of delegating management rights and responsibilities.
  • Co-ownership of undivided interests. Grandpa's  ranch or Mother's patent is evidenced by a recorded written instrument.  A NM LLC can be the registered owner allowing family members to share rents and royalties.
  • Instead of or in addition to a family trust.  The terms of the Operating Agreement of a NM LLC can provide for events like death or incapacity that preserve the ability of the NM LLC to "carry on" without interruption. 

Types of LLC Governance

A New Mexico LLC can either be member-managed or manager-managed and it can elect to be taxed as a proprietorship, partnership, S-corporation or C-corporation. A New Mexico LLC can own assets in any other state and become qualified to do business almost anywhere.  How well the arrangements work depends primarily on the foundational document called an Operating Agreement.

Conversions and Mergers

Existing companies, both from New Mexico and other states, can convert to operating as a New Mexico limited company. Our law firm will draft Articles of Organization, Articles of Conversion, Articles of Merger and Articles of Dissolution for out-of-state companies coming into the jurisdiction of New Mexico.

Operating Agreements

An Operating Agreement should be custom written to set out the purpose, anticipated duration, anticipated number of owners and manner of making management decisions. Attorney Lynn McKeever has drafted numerous operating agreements.  Some are contracts between and among multiple owners.  Some are declarations by a single founder or owner that set out the anticipated growth and change of the company even after the founder's death. Rather than reading through pre-printed forms dense with  legalese, you can commission Lynn McKeever to write a custom document for your company.

McKeever Legal Advisor LLC

3636-B Menaul Blvd. NE
Suite 101
Albuquerque NM 87110

(505) 991-1948

lynn@lynnmckeever.com

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Please respect the complexity of our system of laws.  This website advertises legal services and is intended to inform the public with general information about New Mexico law.  If you have a specific need for legal advice, please bring your questions to an attorney.
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