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Home Q&A Forum LLC and asset protection?

Asset Protection

LLC

Ohio

Asked on Jul 28, 2023

LLC and asset protection?

I have recently started a small business and am interested in forming a LLC for it. I am looking to protect my personal assets from any liabilities the LLC may incur, and I am seeking advice about how best to do this. I am looking for guidance on how to ensure the LLC will provide me with the asset protection I need.

1 Attorney answer

Answer

Asset Protection

Ohio

Answered 344 days ago

Paul S.

ContractsCounsel verified

Business Lawyer
Licensed in California, Ohio
Free Consultation

The LLC is a good starting point for asset protection. How you operate the LLC, and in particular the LLC's finances, is even more important. You should be careful to keep the business's finances separate from your personal finances - for example, don't pay the rent or mortgage on your home out of your LLC bank account. And of course, liability insurance is your first line of defense.

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