LLC - Posted by Pup

Posted by JHyre in Ohio on January 24, 1999 at 07:43:12:

Pup (Puppy to your friends?),

All of the above questions are answered in the following places:

Go to How-to-Articles and read every article by Bill Bronchick. Go to Legal Corner and read every post with “LLC” in the title. All the questions asked above- and then some- will be answered.

John Hyre

LLC - Posted by Pup

Posted by Pup on January 24, 1999 at 01:01:29:

I’ve heard a lot of advice about getting the property out of your name and into an LLC. What exactly does an LLC do to protect you? Any disadvantages as far as using the property as collateral? My attorney said that if a person slips on ice, falls and breaks their back on a property that is in an LLC, they can still sue the person whose name is on the LLC, as the paper trail leads to their door. So what good is it? Thanks for some insight. - PUP

Re: LLC - Posted by Rob FL

Posted by Rob FL on January 24, 1999 at 19:09:12:

The truth is you can sue anyone you want to for any reason, legitimate or frivilous. However, you must prove that the person/entity you are suing caused you damages. It is highly unlikely that they could pierce the veil of an LLC unless the members actually caused the negligence in their individual capacities or the LLC was not being run like a true company. I would heed JHyre’s advice and read the Bronchick articles. An ounce of prevention is worth a pound of cure.