Re:Research Says Solo Founders Perform Better
by vmception on Friday August 14, 2020 @10:39AM
(#24158486)
> because judge's remove the protection an LLC gives your personal assets for arbitrary reasons.
first you have to get sued: RARE
then everything has to go wrong: RARE
then it has to make it actually to trial court: RARE
then that one judge has to leverage an "alter ego" statute: RARE
> Additionally, you need a multi member non spousal LLC to even get the protection in the first place.
This is false.
> I have a lot of assets to protect.
Then protect them? Put them in different LLCs, trusts, foundations. To save money you can use a Series LLC which lets you separate liabilities or business lines into different series, about 20 states offer those, and outside the US the concept is called a "Segregated Portfolio Company". Use states where there isn't information about you in the LLC filing. You should basically have nothing in your name. Even better, you should have a negative AGI and be in debt on paper. If someone actually wins a civil lawsuit against you, you can tell them to get in line.
first you have to get sued: RARE
then everything has to go wrong: RARE
then it has to make it actually to trial court: RARE
then that one judge has to leverage an "alter ego" statute: RARE
> Additionally, you need a multi member non spousal LLC to even get the protection in the first place.
This is false.
> I have a lot of assets to protect.
Then protect them? Put them in different LLCs, trusts, foundations. To save money you can use a Series LLC which lets you separate liabilities or business lines into different series, about 20 states offer those, and outside the US the concept is called a "Segregated Portfolio Company". Use states where there isn't information about you in the LLC filing. You should basically have nothing in your name. Even better, you should have a negative AGI and be in debt on paper. If someone actually wins a civil lawsuit against you, you can tell them to get in line.