Ready. Set. Incorporate!
http://readysetincorporate.com/faq-items/will-putting-my-personal-residence-into-an-llc-protect-it-from-my-creditors/
Export date: Sun Nov 18 1:22:15 2018 / +0000 GMT

Will putting my personal residence into an LLC protect it from my creditors?


Sorry, but . . . LOL – no. People do try this, though. The purpose of an LLC, and therefore what it ultimately protects, by law, is the business that's operating inside it. Unless you have turned your personal residence into a business (not really a personal residence anymore), then it's not protectable this way. However, one of the main reasons people put their business into an LLC is to protect their personal assets, like their home. Nice try, though.
Excerpt: Sorry, but . . . LOL – no. People do try this, though. The purpose of an LLC, and therefore what it ultimately protects, by law, is the business that’s operating inside it. Unless you have turned your personal residence into a business (not really a personal residence anymore), then it’s not protectable this way. However, one of the main reasons people put their business into an LLC is to protect their personal assets, like their home. Nice try, though.
Post date: 2015-06-15 13:14:41
Post date GMT: 2015-06-15 20:14:41

Post modified date: 2015-07-07 14:57:35
Post modified date GMT: 2015-07-07 21:57:35

Export date: Sun Nov 18 1:22:15 2018 / +0000 GMT
This page was exported from Ready. Set. Incorporate! [ http://readysetincorporate.com ]
Export of Post and Page has been powered by [ Universal Post Manager ] plugin from www.ProfProjects.com