Thursday, July 2, 2015

Linsurance, LLC or Both?

You definitely, need insurance on your rental property. Don’t go without it. But is insurance alone enough? NO!
Your insurance covers your property, but it does not mean that a lawsuit is limited to only the insured property. Sue happy attorneys can and will attach your personal property, accounts and additional assets.
A sue happy attorney will look at all your assets and attach whatever is of value to the lawsuit. Are you willing to risk it all?
Setting up an LLC is like having an additional insurance policy. It’s very inexpensive. I will cost you about $125 per month for the first year and then about an additional $10 to $20 per month the following year.
Benefits of a Limit Liability Company (LLC)
1 Reduce the incentive of getting sued in the first place
2 If you are sued, make sure your personal and business assets are protected
3 Extinguish the claimants’ economic incentive to sue
4 Utilize the LLC to provide a level of asset anonymity guaranteed and protected by state law
5 Make yourself disappear from information databases and unable to be located
6 Insulate your assets from each other so they are not lost in lawsuits
7 Increase bargaining power with creditors
8 Make collection on judgments difficult
9 Minimize the financial, emotional, and time consuming risks of lawsuits
Don’t wait until you are in the midst of a lawsuit. Call today and schedule a no cost, no obligation assessment regarding your asset protection needs.
Troy Boldt
(888) 674-9181

No comments:

Post a Comment