Comments on: Can I Form an LLC to Avoid Existing Personal Liabilities/Claims?
http://thellcexpert.com/llcanswers/can-i-form-an-llc-to-avoid-existing-personal-liabilitiesclaims/
Limited Liability Company KnowledgeMon, 02 Feb 2009 00:41:59 +0000http://wordpress.org/?v=2.9.2hourly1By: Amyli McDaniel
http://thellcexpert.com/llcanswers/can-i-form-an-llc-to-avoid-existing-personal-liabilitiesclaims/comment-page-1/#comment-158
Amyli McDanielTue, 23 Dec 2008 00:54:27 +0000http://thellcexpert.com/llcanswers/?p=40#comment-158As long as the new LLC entity does not contractually assume the personal liabilities of an owner, then it will not be held liable for them. However, if there are affirmative actions taken by the LLC to undertake the responsibility, then once an LLC assumes a liability it is on the hook.As long as the new LLC entity does not contractually assume the personal liabilities of an owner, then it will not be held liable for them. However, if there are affirmative actions taken by the LLC to undertake the responsibility, then once an LLC assumes a liability it is on the hook.
]]>By: David O'Grady
http://thellcexpert.com/llcanswers/can-i-form-an-llc-to-avoid-existing-personal-liabilitiesclaims/comment-page-1/#comment-140
David O'GradySat, 13 Dec 2008 00:07:25 +0000http://thellcexpert.com/llcanswers/?p=40#comment-140Does forming an LLC protect the LLC/Entity from personal liabilities, judgements or lawsuits the forming Member has prior to forming the LLC?
I ask this not as a means of avoiding the personal liabilities long term, however need to protect my Business LLC/Entity as I settle " Personal " outstanding liabilities.
Thank you
David O'GradyDoes forming an LLC protect the LLC/Entity from personal liabilities, judgements or lawsuits the forming Member has prior to forming the LLC?
I ask this not as a means of avoiding the personal liabilities long term, however need to protect my Business LLC/Entity as I settle ” Personal ” outstanding liabilities.