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I am wanting to start my business herein AZ, I am only one…

Customer Question
I am wanting to...

I am wanting to start my business herein AZ, I am only one person, and do not want to spend a lot of money setting up an LLC, Reason for LLC. is to protect my modest assets in the unlikely case of some problem.

Lawyer's Assistant: Can you tell me what state the LLC is registered in?

I do not have an LLC yet. Just moved here to Az.from Canada. I have a small property in Az., and a small property in Texas, and some small amount of savings. This is what I want to.protect.So, i have questions about LLCs.

Lawyer's Assistant: Has anything been officially filed? If so, what?

Nothing filed yet.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Probably not..thanks

Submitted: 3 months ago.Category: Business Law
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12/29/2017
Business Lawyer: socrateaser, Attorney replied 3 months ago
socrateaser
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 39,759
Experience: Retired
Verified

Hello,

The cost of forming an LLC through one of the many online websites that provides this service is very reasonable (typically around $50). However, if you have property in both Texas and AZ, and you want to protect them in an LLC, then you are likely better served to have two separate LLCs -- one in each state jurisdiction. That way, an adversary can only reach one of the properties, because the other is protected by a different LLC.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

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Business Lawyer: socrateaser, Attorney replied 3 months ago

Hello again,

I see that you have reviewed my answer, but that you have not provided a rating. Do you need any further clarification concerning my answer, or is everything satisfactory?

If you need further clarification, concerning this matter, please feel free to ask. If not, I would greatly appreciate a positive feedback rating for my answer (click 3, 4 or 5 stars) – otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

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socrateaser
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Category: Business Law
Satisfied Customers: 39,759
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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