How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen
Ellen, Attorney
Category: Business Law
Satisfied Customers: 36714
Experience:  25 years of experience helping people like you.
9968427
Type Your Business Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

Can two LLCs individually owned in the same professional area

Customer Question

Can two LLCs individually owned in the same professional area sell shares to one another as a way of increasing their protection against debtors in the state of Florida. Brent Blanchard answered my last question.
Submitted: 6 years ago.
Category: Business Law
Expert:  Ellen replied 6 years ago.
Hello,

Would you like me to forward your question to Mr. Blanchard or are you looking for a 2nd opinion?
Customer: replied 6 years ago.
Mr. Blanchard never responded to this.. Whomever feels they can respond would be fine. Thanks
Expert:  Ellen replied 6 years ago.
Hello,

I am the JustAnswer expert that will be helping you today. I am a lawyer with 25 years experience. Although I am not your attorney, I hope that I can give you helpful legal information.


Question --Can two LLCs individually owned in the same professional area sell shares to one another as a way of increasing their protection against debtors in the state of Florida.

Answer -- It would not appear to be beneficial. If LLC X owned shares of the LLC Y, and a judgment was issued against LLC X , the shares of the LLC Y owned by LLC X would be at risk.