Thread: LLP? LLC? Help
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Old 04-24-2012, 02:40 AM
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kdt26417 kdt26417 is offline
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Re (from drtalon):
"The lawyers I heard presenting at Atlanta Poly Weekend 2012 suggested trusts are the best way to collectively share assets while protecting the group and its assets from legal action against individual members. Another thing I overheard is that LLC's provide very little protection because it is usually very simple to pierce the corporate veil with LLC's used in such ways."
Hmmm ... interesting.

Re (from KyleKat):
"I would have to recommend against using that type of arrangement for your personal life. That's a lot of headache for not a lot of protection. A simple lawyer drafted contract is much cheaper, only requires updating when you make changes (instead of yearly filings) and is overall much more simple."
Interesting indeed. I feel perhaps not much smarter, but somewhat wiser.

Re (from KyleKat):
"Written contracts for everything in life, people."
Sounds like good advice to me.
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