A lot of the time period depends on the level of involvement of the members. I suspect the lawyers who wrote the memo are figuring worst case - such as if we have to fight each other at every turn.
If we do what we should have done in the first place, work together for the betterment of all of us, instead of fighting about things we cannot change anyways, then I think the eight month figure is good. So it is kind of the choice of the members.