Legal Question in Business Law in Montana

I have LLC ( restaurant) with one partner ( not wife) and my wife is worried that she would be held liable for any business debt Is this true? She isn't legally an owner in the business.


Asked on 6/22/10, 5:09 pm

1 Answer from Attorneys
Kevin B. Murphy Franchise Foundations, APC

Any attorney will say a review of all facts, documents, etc. is required. Assuming you set up the LLC properly and business debts are under the LLC, your personal assets should be protected. That is why an LLC is formed. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 6/23/10, 6:17 am


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