DAL Law Firm: Can an LLC protect my assets?
Can an LLC protect my assets?
A limited liability company, better known as an LLC, combines parts of corporations, sole proprietorships, and partnerships into a single business entity providing owners with liability protection, a management structure, and certain tax benefits. Structurally, it is a flexible, legal form of a corporation that offers limited liability to owners in many different jurisdictions. An LLC protects personal assets by creating a buffer between your personal assets and business liabilities.
If someone has a judgment against your business, when you run an LLC, the only assets they can search are funds in the business bank account or business property, not your bank account. personal. All investments or other businesses are unaffected by legal action, whether the business goes bankrupt or is sued under an LLC.
An LLC must be created before it can be sued, if your business is being sued in order to protect your personal assets. The only exception to normal LLC protections is limited professional liability, as personal liability is essential to being a licensed professional. Your business is enrolled in the most profitable insurance policy in the market by establishing your business in an LLC.
If you have any questions about the process or would like to learn more about LLCs, please contact our office at (206) 408-8158or visit our website at: www.dallawfirm.com.
19803 1st Avenue S.
Normandy Park, WA 98148
Such. (206) 408-8158
F (206) 374-2810
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