Legal Question in Wills and Trusts in Illinois

Should I form a family corporation to become personally sue proof?


Asked on 6/12/17, 12:49 pm

2 Answers from Attorneys

Thomas Moens Moens Law Offices, Chartered

There is no such thing as "sue proof." You can limit your exposure through various mechanisms. What is best for you depends on what kind of assets you are trying to protect and how much money you want to spend.

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Answered on 6/12/17, 12:58 pm
Virginia Prihoda Law Offices of Virginia Prihoda

Incorporating yourself could have unintended harsh tax consequences. Put property into a corporation, no problem. How do you get back your own property? In a taxable transaction.

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Answered on 6/13/17, 2:28 pm


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