Getting your LLC yourself? Where did you get yours?

Oh but in my case it will.

 

how's that?

If you are negligent in operating the truck or managing it in a negligent manner, you are on the hook and so is all of your assets.

An LLC will not protect anything except your retirement.

 

Because I am actually running it like a business and keeping the money separate. That's why I had my lawyer set it up. Some people actually WANT to do things correctly I would be one of them. Why pay my lawyer to set everything up if I wasn't going to follow his instructions.

 

It wont protect your personal assets if you are also the driver.

 

Thank you for your concern, but I know my lawyer knows more about the law than you do unless you are a lawyer, are you a lawyer?

 

Nope but my lawyers the one that told me that. I have an llc for taxes but i still dont know if the new tax laws changed those advantages.

If you only wanted a lawyers input you probably shouldnt have come to a truckers forum for advice. Good luck to ya.

 

It don't matter.

My lawyer has sued a few llc entities in the past, and won every time with personal assets attached.

the last one was due to an accident I was involved with, I got a settlement out of the owners assets that he tried to hide.

Your liabilities as a manager are the same as a sole proprietor because you manage the policies and direct the drivers. As a driver in the same configuration, you are have a liability personally becuase you are in control of the vehicle.

If a lawyer says otherwise, he either never has litigated a suit with an llc involve or never understood how the liabilities work in this industry.

Either way, the llc affords you the tax advantage but does not and never did give you liability protection.

 

We are going to have to agree to disagree on this. You don't know anything about me, my assets company or the way the company is managed etc.. so a blanket statement such as yours is just an assumption. Which is a derivative of the word assume and we all know what that means. I thank you for your impute but I will not hijack this thread.

 

The biggest corporations in the world get successfully sued on a regular basis. But yours is immune. Okay.

 

This article might help to start explain things. Always best to consult a business law attorney knowledgeable with the laws of the State of record for the LLC.

LLCs and Limited Liability Protection