Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
shell1ton

Is my LLC really protecting me if the properties aren't in it'

Recommended Posts

I have a couple of properties that have all of their monies processed through my LLC.

Neither of them is actually in the LLC's name.

I have been pretty careful to always sign LLC checks as shell1ton, agent of LLC, in order to prevent "piercing of the corporate veil", but worse come to worst, am I protected if the properties aren't in the LLC's name?

Thanks.

Share this post


Link to post
Share on other sites

Not a bit. You have the same liability exposure now that you had before you formed the LLC.

 

All your personally owned assets are at risk -- your vehicles, your bank accounts, your brokerage accounts, your primary residence if you are on title, all the investment real estate -- essentially everything you own.

 

I would appear that the only thing the LLC is protecting from an external lawsuit is the bank account you have in the LLC name. You did open it in the name of the LLC, didn't you? If not, then it is at risk too, and the LLC does nothing for you.

Share this post


Link to post
Share on other sites

×
×
  • Create New...