Lehi, UTAH — Many entrepreneurs do not realize that simply forming a Limited Liability Company (LLC) will not protect them from financial distress and personal liability in the event of a lawsuit. One of the primary benefits of forming a legal entity is to protect a business owner’s home, personal bank accounts, and other assets. A Utah based law firm has made it easier for business owners to create an LLC that is quick, affordable, and will offer the peace of mind of protection.
An LLC allows a business owner to become two separate beings-the business itself (legal entity) and the business owner (individual). The primary reason to create an LLC is also the reason homeowners build a fence around their homes – to protect their personal property. Like a good fence, an LLC will separate the business owner’s personal bank accounts, homes, or any assets they may own from risks the business may face. But simply creating and registering an LLC with the state is not enough to give you personal protection from lawsuits or financial distress.
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