<div dir="ltr"><div>Yes, he can put his personal property into a LLC. That way it's only his business assets exposed. I would also consider an additional LLC for businesses he is considering for the long term. I have set up individual LLCs for each specific business. A discussion with him would help to define the direction to take.</div><div><br></div><div>Tom</div></div><div class="gmail_extra"><br><div class="gmail_quote">On Wed, Dec 7, 2016 at 3:25 PM, Josh Grant <span dir="ltr"><<a href="mailto:jgrant@accima.com" target="_blank">jgrant@accima.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
<div dir="ltr">
<div dir="ltr">
<div style="color:rgb(0,0,0);font-family:"Calibri";font-size:14pt">
<div><font size="4">I have a client who has a large business, fully insured,
however the activity has a potential for substantial liability (environmental,
accidents to workers). It is owned as a sole proprietor by client with his
wife.</font></div>
<div><font size="4"></font> </div>
<div><font size="4">He and his wife owns some real property including a family
home.</font></div>
<div><font size="4"></font> </div>
<div><font size="4">It would be difficult to transfer everything in the business
into an LLC. because of the nature of the assets. Same with transferring
everything into a Corporation. Also he may sell the business in a year or
so.</font></div>
<div><font size="4"></font> </div>
<div><font size="4">He is hoping for some reduction in risk exposure to his
nonbusiness assets.</font></div>
<div><font size="4"></font> </div>
<div><font size="4">I have told him that their isn’t a lot of protection
available, however, an LLC might be helpful (create a small barrier) for a
business related claim, if for some reason he doesn’t have enough
insurance.</font></div>
<div><font size="4"></font> </div>
<div><font size="4">Is there a problem if he puts the real property he and she
owns in an LLC? Would it provide any protection to their assets? Other
suggestions?</font></div>
<div><font size="4"></font> </div>
<div><font size="4">Josh Grant</font></div>
<div><font size="4"></font> </div>
<div style="color:rgb(0,0,0);font-family:"Calibri";font-size:14pt">Joshua F.
Grant, PS<br>Attorney at Law<br>P. O. Box 619<br>Wilbur, WA 99185<br>tel 509 647
5578<br>fax <a href="tel:(509)%20647-2734" target="_blank" value="+15096472734">509 647 2734</a><br></div></div></div></div>
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