I have been thinking of becoming a LLC company right now i am sole proprietor. I am just starting to do more commercial work and need to protect myself and my family just in case something happens. Has anybody ever use legal zoom and do you think it is a good company, it will cost me about 800.00 to become a LLC but I think in the long run it is worth it. Just looking for another opionion thanks
Legal Zoom
- Thread starter jm1470
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1793
Senior Member
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- Louisville, Kentucky
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- Inspector
You might want to check with your Secretary of State about setting up your LLC. In Kentucky you can do it on-line and it cost me about $20.00.
petersonra
Senior Member
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- Northern illinois
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- engineer
There are good reasons to have a lawyer help you set up an LLC. The paperwork is the easy part. There are many considerations you need actual legal advice about to get the full benefit of your LLC.
1793
Senior Member
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- Louisville, Kentucky
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- Inspector
Good advice as well as other posts.
Fulthrotl
~Autocorrect is My Worst Enema.~
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- E
some states, the people's republic of californicate being one, don't allow an
EC to be a LLC....
however, if "something really bad" happens, neither a LLC or a regular corporation will
protect you personally all that much, at least in california.... they sue everyone,
and every entity here.... it's a local sport, as we have attorneys here on 16" centers.
it will however, protect you against business reversals.
petersonra
Senior Member
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- Northern illinois
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- engineer
An LLC does not protect anyone from lawsuits. thats why you buy liability insurance.
An LLC or other corporate structure is helpful in separating your personal stuff from your business stuff legally. If handled correctly, it can make the personal side of things more secure. How to handle it to get the best protection is part of what your lawyer can help you with.
zbang
Senior Member
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- Roughly 5346 miles from Earls Court
BTW, a google search for "types of corporations" will turn up a number of good comparison pages.
I have looked into incorporation a couple of times. I determined all it would have done for me is make more paperwork, provide for less flexibility and increase my taxes.
Incorporation does not keep someone from suing you the corporation AND you the individual.
I bought more insurance instead.
Fulthrotl
~Autocorrect is My Worst Enema.~
- Occupation
- E
that's kinda where it left me as well... i didn't find it effective as a one man band
to do it... if i'm doing all the work, then i'm personally liable for that work.
there is nothing that mitigates that liability. insurance simply protects me
to some extent.
when i get to the point of having employees, however... then the inc. makes
sense.
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