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Old 09-18-2013, 07:47 PM
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Join Date: Jul 2006
Location: Tampa FL
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Quote:
Originally Posted by alexschultz1 View Post
Um, yes it does, but to an extent. An LLC (limited liability company) won't protect you if you run someone over with your mower, but it will protect you if you underbid a $250,000 job and need to declare bankruptcy. I have no idea why people think that an LLC instantly protects your personal assets from legal situations that you are personally responsible for.
I'm glad I'm not the only one that gets this. Case in point. What happened to Bernie Madoffs personal property? Was that protected by his corporation? The ultimate rule in this great country "you can sue anybody for anything"
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