Many San Diego businesses choose to incorporate or set up an LLC (a limited liability company) to take advantage of the benefits offered by these business structures, including protection of your personal assets from company debts and lawsuits. California courts take the division between a corporation or LLC and its shareholders, members, officers, and directors seriously-and recognize that protection from personal liability is a legitimate reason to form a corporation or LLC. Even if courts generally don’t “pierce the corporate veil,” it can happen, but there are things you can do to help prevent putting your personal assets at risk. (more…)
Archive for the ‘Asset Protection’ Category
Protect Yourself From Personal Liability: You’ve Filed as a California LLC or Corporation, but is that Enough?
Friday, August 7th, 2009
When Unmarried Couples Buy California Real Estate: Protect Your Investment When Living Together
Friday, August 7th, 2009As we all know, it’s still a buyers market here in California, and you and your partner may be thinking about pooling your resources and buying a home together. This can be a great investment, but it can also turn out to be a costly mistake if you don’t take the right steps. Consider the story of a woman and her boyfriend who bought a townhouse together, as told in a Christian Science Monitor article by Marilyn Gardner. She had contributed a smaller portion of the down payment, and had been paying part of the mortgage, but the home was titled in her boyfriend’s name only. When they broke up, he kept the home and the equity, and she lost all the money she had put in. (more…)
