This is the second email in a series on the four possible elements of an LLC.  My video at right explains the concept of continuity of life, which is one of the four elements.

More information is available on my blog at www.llcwizard.com/continuity-of-life, but you should know that continuity of life does not mean that your company (LLC or corporation) will go on forever.  What it means is the company will continue after the death of one of the owners (shareholders or members).  Because corporations have all four elements, IBM isn’t going to cease to exist when one of its shareholders dies.  It is a corporation with all four elements, including continutiy of lifeYour little LLC is another matter. Does it have continuity of life?

If your second choice out of the four is continuity of life, then the LLC will continue after the death of a member.  If continuity of life is not one of the two choices, the company dies when one of the members dies.