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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: 6 months ago.Category: Business Law
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12/29/2017
Business Lawyer: socrateaser, Attorney replied 6 months ago
socrateaser
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 40,075
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 6 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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