An LLC Operating Agreement protects personal assets by enforcing the separation between those assets and the business's assets. This is often referred to as maintaining the corporate veil. In case of a legal dispute or financial trouble in the business, your personal savings, property, and other assets would be protected from liabilities.The operating agreement can also include provisions for the transfer of a member's interest upon their death. Such provisions allow for a direct transfer of interest to a designated beneficiary, bypassing the often lengthy and costly probate process. This ensures a smooth transition and continuity of the business.