ctjstr
Senior Member
- Joined
- Nov 24, 2017
- Messages
- 399
- Location
- United States
- Vessel Name
- "Convergence"
- Vessel Make
- Camano Troll
Nope, I always research opinions much further and saw how many lawsuits individual "owners" of LLCs were in and how liability suits have become.
LLCs may provide other great things, but liability protection for actions done by the owner doesnt seem to be one.
The real trick is the thin line lawsuits are drawing in negligence and gross negligence these days.
Heres another opinion....
https://www.legalzoom.com/articles/...-protect-your-personal-assets-as-an-llc-owner
1. Obtain LLC Insurance
If someone files a lawsuit accusing you of wrongdoing—whether it’s negligently maintaining your building, wrecking the company van or defrauding a customer—your*LLC*won’t protect you from personal liability. And the judgment in a personal injury lawsuit can be financially devastating.
For this reason, it is important to have a good liability insurance policy that will cover both you and your business if you get sued.
that's partially true. LLC's do provide asset protection in many instances. It completely depends on what the negligent act was and who committed it. Fox example, if you have an LLC as a construction company that company gets sued for the negligence of an employee, you personally are not liable even though the LLC is. If it was you who was negligent, its a closer call and you may have liabilty. As someone said, that's what insurance is for. LLC's are cheap and easy to form and can often add a layer of protection, so why not?