Cost of forming an LLC
Gentlemen and Ladies: I will be starting a small scale solo lawn care business in 2013. I will be forming an LLC as opposed to operating as a sole proprietor.
From my perspective, It appears to be advantageous to get assistance in the process of forming an LLC. My state (Ohio) does not require an operating agreement in order to form an LLC. But my understanding is that executing an operating agreement will be an excellent document to have in the event of a law suit.
I could file the articles of organization and pay the Secretary of State Fee and obtain the EIN from the IRS on my own, but it appears the biggest advantage of hiring an attorney is to draft the operating agreement and there is some liability risk in not having that (operating agreement document). I have been quoted $500 (does not include the Secretary of State filing fee) in attorney fees to get this done.
What are your thoughts? Is it worth the cost of hiring a lawyer to do this? Is $500 a reasonable price?