Whats the point of getting your LLc if you are lease on with a company?? Jus asking

The only protection is to not have any assets. That or bury cash in the garden. An attorney I know (my sister) once told me those who live in run down rented single wide trailer don't get sued. Actually her words were "Poor white trash don't get sued for a reason". That came out with me looking at suing a guy for crashing through my back wall and damaging my property. No insurance and hit and run, That and renters who bailed on me. Not worth filing a lawsuit. I know, not LLC related but I have different experience and perspectives.

And then there is the process to collect on a judgement awarded by a court.

 

I just got a ride from evenings services from the PI attorney who sits behind me. He said essentially the same thing. I'll paraphrase what he said; Yes, I would include the driver, as he caused the accident, but if he's driving a truck, he's got no money!

 

Walmart would still eat alot of the blame in your scenario. They can't just sale something they know nothing about. Also you are wrong anyways I lease and don't have an llc and if anything happens I am covered through my company it's called insurance which I pay through the company.

 

If you get in an accident.. A corporation.. They can only go after your truck and not your house.. Is the main reason... Talk to your accountant

 

LLC or INC will only protect the owners from someone elses negligence. If you are the owner and the driver and found at fault in an accident, that is your negligence, your personal assets are still at risk.

 

That's not true if you are driving they can sue company your leased to your LLC and you personally . If you drove for yellow freight and hit somebody they can sue yellow and you

 

There is really no reason. To LLC if your the only one in the LLC you and LLC is the same all can be sued

 

I want to see a family of seven get in a smart car BTW...

 

Watch some Legal Lee's videos on YouTube to see how to protect your personal assets when setting up a LLC.

 

A corporation is still legally considered a separate entity, even with only one stockholder. That doesn't mean that you are completely shielded from being sued. The opposition would still need to prove culpability and they might be able to penetrate the corporate veil if you have not crossed all your t's and dotted your i's. If you have personally co-signed for any business loans, then you could still have some responsibility for repaying those loans.