Legal Question in Business Law in Arizona

L.L.C.'s

I am a member of an L.L.C. with property in it. If I am sued will my L.L.C. (and the property) be protected?


Asked on 8/29/07, 3:32 pm

1 Answer from Attorneys
James Jenkins Jenkins Law Center PLC

Re: L.L.C.'s

You cannot lump all potential claims into "if I am sued." In the first place, if you are sued for something personal, you will be responsible. If the company is sued, the company will be responsible. If you co-mingle funds and finances, use the company as an alter ego of yourself, commit fraud, etc. the LLC status may not protect you from personal liability.

See a business attorney who is familiar with estate planning and asset protection to be fully advised and protected. We offer free, no obligation consultations at 480.835.1500.

Best regards,

James D. Jenkins

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Answered on 8/30/07, 2:31 am


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