for california
2007-01-20 14:08:59 · 2 answers · asked by beach_babe971 1 in Business & Finance ➔ Corporations
To determine if a LLC makes sense and to start one you will need to talk to an attorney and/or tax specialist. But there are two things you should know.
1. An LLC is, in effect, it's own legal entity. It isn't "for" any particular asset. It doesn't just go away, for example, even once the asset is sold.
2. Having corporate ownership over your own home generally wont work for a number of reasons. Homeowners have several legal safeguards already including insurance, homeowner and bankruptcy laws. A corporate form is for things you use in business and want to keep more or less walled of from what is yours personally. An property held for investment, that coud be more appropriate for a LLC.
2007-01-20 16:47:22 · answer #1 · answered by Anthony K. 2 · 0⤊ 0⤋
Consult an attorney who specializes in corporate law.
2007-01-20 22:41:22 · answer #2 · answered by Bill P 5 · 0⤊ 0⤋