As an accounting firm, we try to shy away from giving any sort of legal advice which includes (but not limited to) advising our customers on creating their operating agreement.  Generally speaking, all LLC’s should have one regardless of the number of owners (and wether they are family members or not); but it is specially important when there are 2 or more unrelated parties with membership interest (ownership / shares) in the LLC.  So I found this video in YouTube that explains operating agreements very well, worth the full 13 minutes:


Here is a link to the Word Document templates on their website for an OPERATING AGREEMENT:

In theory, anyone can create (or work with a template like this) their own Operating Agreement, but is always advisable to consult with an attorney prior to executing the agreement.  We are NOT attorneys, so we cannot provide ANY advice to how the agreement should be laid out and/or the language it most contain. There is tons of information from the maker of the video and author of the documents “LLC University”, check them out:

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