You might have reached a point in your life where you want to do your own thing- as far as business goes. Well, good on you! Abraham Lincoln famously stated, “the best way to predict your future is to create it.” And oh boy, was he right!
Few things in life are as fulfilling as being in control of your financial destiny. Not having to rely on someone else. Not working yourself to exhaustion, only to help build someone else’s vision. The great thing is that there is an endless list of options when it comes to business.
As the golden rule, try and go with a venture that plays to your strengths. Moreover, if you do what you love and enjoy, no single day will feel like you’re working.
Hope the pep talk has got you worked up because here comes the reality. Ready for it? Setting up a business is not for the faint of heart. It requires tons of patience and an endless supply of, “you got this!” “You can do this,” mentality and the secret weapon- hard work! Lots of it.
It also involves plenty of paperwork. The good news is that most of the boring stuff, i.e., paperwork, can be outsourced to professionals. Thanks to the internet, and some revolutionary entrepreneurs, firms such as LegalZoom, IncFile, Rocket Lawyer, Legal Nature, etc., exist to service this vital purpose.
But with so many options, how can you tell which one is more reliable, affordable, and efficient? Well, that’s where I come in. I’ve taken the step of reviewing one of the industries’ business formation leaders- Legal Nature.
In this Legal Nature L.L.C. review, I will take you through my L.L.C. formation process with you. I will break down my overall experience into bite-size pieces. I’ll let you know what I think about them, love about them, and what I didn’t like in this review.
Let’s get into it…[toc]
Legal Nature L.L.C. Review- Background
The process of registering a business in the past involved moving around- a lot! You have to look for a lawyer to provide you legal advice on filling individual documents for your licenses, permits, E.I.N., and much more.
As you know, legal consultation isn’t cheap. As a result, numerous aspiring small business owners opted to go at it without all the necessary papers, resulting in hefty penalties. Others simply gave up on their dreams of owning a business.
Tired of all the bureaucracy and waste that goes into setting- up a business, a team of experienced attorneys, business executives, and technocrats decided to take the matter into their hands and formed Legal Nature. This was back in 2010.
Over time, the firm has gone to help thousands of happy clients with the business formation. The online legal service provider offers assistance with drafting lease agreement papers, trusteeship, registered agent service, contractual agreement letter, etc.
Unlike other business formation service providers like LegalZoom and Rocket Lawyer, Legal Nature truly offers a suite of services tailored toward the opening, running, and growing of your business stress-free.
They pride themselves on their 100% money-back guarantee and stand by it- minus the state filing fee. This minimizes the risks on the entrepreneur’s side while fostering confidence in the company’s fiduciary character and abilities.
Legal Nature L.L.C. Review- Business Entities
Limited Liability Company
Whether you are running a sole proprietorship or partnership, you should seriously consider setting it up an L.L.C. It will offer you legal protection similar to a corporation and enable you to run your business.
A C-corp is usually owned by shareholders, who in turn elect a board of directors. Like with other corporations, C-corp offers you legal protection from getting sued. It also protects your personal assets from the company’s liabilities and debts.
Other than the legal protection, C-corporations pay taxes at a special corporate rate that’s typically lower than individual tax rates.
Determining the type of company structure best for your business can be a bit confusing. Legal Nature business specialists can assist you with opening an S-Corp. What’s attractive about this business structure is liability protection and tax advantages.
The business’ profits and losses go through the corporation’s income tax, thereby avoiding double taxation.
Non-profit’s bring expertise, education, finances, and talent together to solve particular goals. If you have a charitable nature and would like to make a difference in the world, consider registering as a non-profit.
Like most other businesses, non-profits are susceptible to lawsuits. So, make the smart choice and get yourself legal protection offered by non-profits.
Legal Nature L.L.C. Review- Product Features
What’s unique about Legal Nature is that they don’t have product packages to choose from, unlike other business formation online legal service providers. The system automatically picks one for you, depending on the business entity or needs.
Start A Business
With Legal Nature, you have the choice of opening an L.L.C., S-Corp, C-Corp, and Non-profit, starting at $40 + state fee.
I’ve had the opportunity to try out LegalZoom, Rocket Lawyer, IncFile, etc., and I must say, the user interface here is simply amazing.
Please choose whether you require legal service regarding your business, real estate, or family & personal matters. Please note: Legal Nature isn’t a substitute for an attorney. They simply assist you with opening a business; they can’t help you in cases such as lawsuits.
In my case, I needed to form an L.L.C. for my online business.
Step two involves picking your choice of state for incorporation.
Fill in the company details, including name and entity designator. Carrying out a name search before going through the registration process allows you to reserve the name. In case you didn’t manage to do this beforehand, don’t worry. Legal Nature can take care of it on your behalf.
Please provide your contact information. This will be used for official communication only. Ensure to provide accurate information as this information will be used in the business registration.
Please note that the processing speed varies from state to state. In my case, the filing process takes up to 15 days in Delaware. If you are in a rush, Legal Nature offers rush processing that cuts the waiting period to 7 days. But it’s going to attract an additional fee.
Step six involves providing the company address. This doesn’t necessarily have to be in the state of formation.
This step involves double-checking the information to ensure that everything is correct before proceeding.
Who’s going to manage your business? Will it be member-managed or manager-managed? Most businesses are run as member management, where all members are responsible for the day-to-to-day operations.
This is partly due to the limited resources that go into running small businesses like bakeries, groceries, etc. On the other hand, if you wish to remain a silent partner, then manager management would be better.
Provide member information. You can add several members, depending on how many they are.
Part of registering a business includes setting up the company’s management structure. At this point, please review to ensure everything looks fine.
Any business operating within the U.S. is required to have a registered agent. This individual needs to operate within the official business hours. They are responsible for receiving any official state documents regarding the business.
Legally, you have the option to be your own registered agent. But, this comes with stringent rules; therefore, Legal Nature offers you this service for $125 a year.
In turn, you get instant email notifications when an item is received, online access to all your documents, and secure storage of vital documents. There will always be someone present to receive the documents.
An Employer Identification Number (E.I.N.)- issued by the I.R.S.- is necessary to open a bank account number in the name of the business, payroll, filing business taxes, and much more. Interesting fact, you can apply for the number for FREE through the I.R.S.’s website.
Nevertheless, I know a lot goes into setting up a new business. Consequently, Legal Nature offers to apply for the E.I.N. on your behalf for $70 if you don’t want to go through the hustle of doing it yourself.
In line with its goal of ensuring entrepreneurs have a smooth business registration process, Legal Nature makes you aware of the licenses and permits you will need to operate in your choice of state- all for $129. Also, it would be best if you filled in your business description.
For your business to remain in good standing with the law, you need to file various compliant papers. These include the L.L.C. Operating Agreement and Employment Agreement. There’s nothing for free on earth, and these will cost you.
According to Murphy’s Law, “Anything that can go wrong, will go wrong,” more often than not, when you least expect it. Thus, irrespective of the kind of business you are in, it’s prudent to have proper insurance.
Legal Nature offers you the option of picking FREE business insurance consultation with industry leader “SURE.” You don’t have any legal obligations and can choose not to proceed afterward.
Do you require a personalized corporate kit? It includes a high-quality customized binder, slipcase, and membership certificates, all for $109.
So far, I’ve come across three L.L.C. formation firms working with Bank of America: SwyftFilings, IncFile, and Legal Nature. If you open a business account with the bank, you stand the chance of receiving up to $450.
Review the compliance items before clicking the “Next” button.
All documents are uploaded onto the client’s dashboard by default. Despite this, if you require hard copies of the same, you can have them delivered through FedEx or Standard Mail, at the cost of $40 and $20, respectively.
Once done with the shipping, the system will prompt you to create a free account with Legal Nature. If you already have one, simply login to proceed, have a look at the progress, or access your dashboard and other business-related documents.
The final step is checkout. On the right is the breakdown of all any add on charges. Ensure everything is as it should be before proceeding to pay. The only negative bit about their payment methods is that they don’t offer alternative payment methods, including PayPal, Google Pay like CorpNet.
Other than that, the entire process is simple and straightforward. I like the fact that Legal Nature does upsell, but not as aggressively as other industry leaders.
Legal Nature L.L.C. Review- Rating
Legal Nature scores high in terms of customer support and business products. Their doctrinal culture of remaining true to their word has made them a leader in formal legal representation- as far as opening, running, and growing a business.
This is how they rate across various third-party vetting agencies:
Legal Nature scores high on TrustPilot, but sadly, it isn’t accredited by the Better Business Bureau.
Legal Nature L.L. Review- Customer Review
Despite failing to get rated by the B.B.B., Legal Nature enjoys a swath of happy clients. Like with any other business, there are a few who are unsatisfied with the firms’ service. Complaints range from slow turn over speed, online legal service, customer support, and refunds.
Here are what some of them have to say:
Legal Nature L.L.C Review- Products
Legal Nature offers numerous business services and documents depending on your stage/need. These include:
- Arbitration Agreement
- General Services Agreementb
- Loan Agreement
- Release of Liability Agreement
- Security Agreement
- Hold Harmless Agreement
- Articles of Organization
- Banking Resolution
- L.L.C. Operating Agreement Addendum.
They offer tons of business-related legal services and documentation. If I were to mention them, they’d probably take up three pages. Truly amazing!
Family & Personal Matters
- Affidavit of Support
- Cover Letter
- Power of Attorney
- Bankruptcy Worksheet
- Durable Power of Attorney
- Cease and Desist Letter
- General Affidavit
- U.S. Passport Application
- Eviction Notice
- Month-to-Month Residential Rental Agreement
- Notice to Vacate
- Residential Lease Amendment
- Residential Sublease Agreement
- Lease Agreement
- Month-to-Month Tenant’s Termination Letter
- Rent-to-Own Lease Agreement
- Residential Rental Agreement
- Tenant’s Notice of Intent to Vacate Premises
- Deed of Trust
- Real Estate Purchase Agreement
- General Warranty Deed
- Mortgage Agreement
- Property Purchase Agreement
- Special Warranty Deed
Marriage and Divorce
- Affidavit of Marriage
- Postnuptial Agreement
- Divorce Settlement Agreement
- Prenuptial Agreement
- Marriage Separation Agreement
- Advance Healthcare Directive
- Living Will
- Healthcare Power of Attorney
- Medical Power of Attorney
- Health Care Proxy
- The website is straightforward to use.
- Legal Nature has tons of products and services. Unlike other company registration firms such as LegalZoom, IncFile, MyCorporation, etc., who solely focus on providing assistance with opening and running a company successfully, they offer tons and tons of other services.
- Products are moderately priced compared to their competitors.
- Reliable customer service.
- A multitude of tailor-made legal documents
- They’ve been around for a decade.
- Legal Nature offers a 30-day money-back guarantee.
- They are not purely focused on setting up and running a business.
- Most L.L.C. forming firms offer up to 4 different business registration packages. Sadly, this isn’t so with Legal Nature.
- They don’t offer a FREE consultation regarding taxation.
Ultimately, Legal Nature offers cutting edge online legal service needed for an efficient opening of any company. They feature all the necessary documents (plus some) you need to run a successful enterprise. This way, even as a newbie, you won’t have to worry about drawing up vital legal documents.
From the get-go, I loved the simplicity of the website. It made me feel free and open by not bombarding me with tons of upselling options. That said, I would recommend the company to any small to medium business owners who need assistance with registering a company.
I hope you found value in this Legal Nature review, and it makes the entire process as smooth and straightforward as I did- thank you, Danielle! Best of luck!
Related: Legal Nature vs. Swyft Filings