Member -managed Vs Manager-managed LLC
I am trying to setup land trusts and LLCs. I want LLC to be the beneficiary of my land trust. I am the only member of the LLC. Which one is better manager-managed or member-managed. In my mind, I have more control if I become the manager. But my friend who is lawyer (he is not familiar with RE and Land Trust) said, member-managed is a better choice for me b/c it requires less formality. He said I can always change to manager-managed in the future if needed. Any input? Thanks.
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