Limited Liability Companies (LLCs): How Assets Are Protected
Summary
Limited liability companies (LLCs) act as strong asset protection tools by isolating risks and preventing issues with one asset from affecting others. Like an “egg carton,” LLCs contain potential liabilities within separate assets. However, protection is only adequate against claims originating inside the LLC; external claims, such as personal lawsuits, can still impact LLC assets. For comprehensive protection, LLCs are often paired with trusts to safeguard personal assets fully. This combination maximizes security by ensuring LLCs are not directly owned by individuals, reducing exposure to personal liabilities.
Kiplinger
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