Legal Question in Real Estate Law in Utah
Limited Liability Companies
To what extent do limited liability companies protect you, and how do they work when all assets are in a trust?
Asked on 7/11/03, 11:07 am
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Limited Liability Companies
A LLC protects the owner personally from adverse judgments. If the only asset is a trust, then the only apparent purpose would be to remove assets further from the prying eyes of collectors.
This is a general answer, and I would need more specific information to give a better and more complete answer.
Answered on 7/11/03, 1:32 pm
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