Simple question about setting up LLC while employed as a company driver
Discussion in 'Ask An Owner Operator' started by TruckRunner, Oct 3, 2018.
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Ok just spoke to a fancy lawyer and I even provided different examples about being a trucker who is the driver at fault and sued and he said with confidence the LLC law protects your personal assets and they cannot sue you for your personal assets.
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I spoke with several attorneys and they all said I would be sued as the driver And the LLC would be sued. One Attorney even said there are some states that don’t recognize LLC at all so I for sure will be sued in those states. One attorney said the LLC gives the “perceived” impression you are protected so why not get it? But they still all recommended LLC and then vigourasly defending yourself in court. I went LLC nothing really extra to do to get the LLC
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I own my own truck and was told by my insurance company that an LLC would do me no good since I was the only driver. Like has been said they can sue your company and you as the driver. The only way an LLC does any good is if you have a driver working for you that has an accident. In that case they can sue your company and the driver, but your personal assets should be safe.
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I have sued llc and their owners and going after another one really soon, I had no issues in going after their personal assets for damages. The last one was when I was rear ended by a texting trucker.
See what you need to get is that the llc can't apply to an owner and an operator being the same person or having influence within the llc to make decisions and policies. It was and still is intended to be a cover for liabilities like in say a retail or manufacturing situation or a limited partnership in real estate, but not trucking.
When the owner is making decisions, like say the falsifying of logs, their assets are at risk.
There are other forms of llc like professional llc where the liabilities are limited, lawyers form them to protect assets. -
OK I may just get an umbrella policy then
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Last edited: Oct 3, 2018
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pullem and TruckRunner Thank this.
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