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rvlaw, Attorney
Category: Business Law
Satisfied Customers: 8386
Experience:  NYC Trial Attorney 30+ years; Law professor ; BUSINESS LAW; CONTRACTS; TORTS; Arbitrator
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How should I protect personal assets from business law suits

Resolved Question:

I have a real estate & insurance business. What enity do I need for liability and asset protection. I want to protect separate and personal assests.
Submitted: 9 years ago.
Category: Business Law
Expert:  rvlaw replied 9 years ago.


Basically you need to incorporate. If you do then your personal assets cannot be reached by anyone who sues the corporation. In such a case of claims, only the assets of the corporation would be available to collect a judgment. Also...make sure you are adequately insured for errors and omissions, property liability, etc.


Customer: replied 9 years ago.
Rich, Are you an attorney? I seem to get different answers from everyone, including the legal profession. Most seem to think an LLC is the best choice.
Expert:  rvlaw replied 9 years ago.

I am. And an LLC will due. It is a corporation.


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