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Good afternoon. It would offer some protection, but you need to remember that the creditor would still be able to come after your ownership interest in the LLC. For personal asset protection against lawsuits, you would be better served to form a family limited partnership...which would allow you to have all the control through a 1% general partnership interest, with the remaining 99% being owned by limited partners...you and your family members. The FLP agreement would contain a provision that if you were sued, rather than the 1% being able to get taken, it would be forfeited and the remaining LP's would name the GP.
I hope this has given you the guidance you were seeking. I wish you the best of luck!
The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
You would not....but if you owned the entire LLC, and they attached your assets, they could attach that asset and essentially end up owning the LLC.
I have a business loan from a company called On Deck.