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By Gary Quinnett on March 18, 2011
Suppose that you plan to get re-married, and in order to keep your assets separate from your significant other you set up a revocable living trust, naming yourself as trustee and sole beneficiary. Three years later, a neighbor trips on your door step, breaks his leg, and wins a lawsuit against you. Can the neighbor […]
Posted in Collections
By Gary Quinnett on January 28, 2011
As with a corporation, all owners of an LLC enjoy limited personal liability. That means that being a member of an LLC doesn’t normally expose you to legal liability for business debts and court judgments against the business. Generally, if you become an LLC member, you risk only your share of capital paid into the […]
Posted in Business entities