Sorry, but . . . LOL – no. People do try this, though. The purpose of an LLC, and therefore what it ultimately protects, by law, is to protect its owners (Members) from liability for claims made arising out of the operations of the business in the LLC. If a person obtains a judgment against you personally, it’s possible that person could eventually find their way to owning your LLC membership interest, and ultimately/possibly the assets in the LLC. It’s a long road, but anything can happen if the prize is big enough.
Will putting my personal residence into an LLC protect it from my creditors?
About the Author: David Herzog
Since 1993, I have represented hundreds of businesses and individuals in a variety of industries. Small business legal advising . . . that's my thing.
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