0
What are you liable for by marrying someone who is involved in an llc?
Wiki User
∙ 12y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Is an llc member liable for llc debt in Colorado?
In Colorado, an LLC member's liability for the LLC's debts is generally limited to the amount of their investment in the LLC, unless they personally guarantee the debt or engage in wrongful or fraudulent acts. Members are not usually personally liable for the LLC's debts in Colorado.
NJ If you have an llc and file a chapter 7 can they sue you as an individual?
If YOU file than yes...and your interest/ownership of the stock in the LLC is an asset that may be used to pay your personal debts/liabilities. If the LLC files, than your personal assets aren't involved...of course your investment in the LLc will likely become worthless....and there will be an e review to make sure that self serving transactions weren't done. Finally, normally, until a business (the LLC) is well established, any loans/leases, etc someone makes to it tey require you to sign for personally too....so you would be personally liable for them anyway.
Can a non wage garnishment be placed on a llc?
Yes it can. If the creditor files a wage garnishment to a protected LLC and that LLC fails to respond or respond properly, a court can and will hold the LLC jointly and severally liable for the entire debt owed to the creditor.
How can you find out if someone is hiding money in an llc?
The LLC is the best place to hide money and other assets. To only way to find out if someone is hiding money in an LLC is to hire an investigator.?æ
Does past personal bankruptcy effect new llc and members and are they liable for any past debt?
Yes i dont know why
Is there a comma before LLC?
No, unless that's what you want. If you want to form your own LLC, you can either name it "New Company LLC" or "New Comapny, LLC." Those are two different names. Whichever one you put on your filing paperwork, spell it the same way from that day on. If you change your mind later, you will have to make a new filing, or there will be legal implications (i.e. you can be held personally liable if you sign for a misspelled/nonexistent business). So whether you spell it with or without comma, is up to you, as there is no universal agreement which style should be used, but be consistent. If want to write to or about someone else's LLC, you will need to look it up. For example, there is "LearningExpress, LLC" (with a comma) and there is "American Domain Names LLC" (without a comma). While very unlikely though because of the confusion it can cause, someone could file for "ABC LLC" and some else could file for "ABC, LLC" in the same state (which may or may not accept both filings).
What does LLC mean after someone's name?
Depending on the context, these initials could mean limited liability company (LLC).
What does LLC after a law firm name?
LLC stands for Limited Liability Company. When a law firm has LLC in its name, it indicates that the firm is structured as a limited liability company, which offers its owners limited liability protection. This means that the owners are not personally liable for the debts and obligations of the firm.
Can someone open an LLC while in Chapter 13 bankruptcy?
Yes, nothing in the bankruptcy law prevents you from opening an LLC.
When will the veil of incorporation be lifted by judiciary?
Exceptions to Limited Liability Torts (Injuries to Others) Members and managers of an LLC can be personally liable for financial loss if caused by their own careless behaviour. Breach of Duty "Duty of care" means that managers and owners of LLC have a legal obligation to manage LLC in good faith and in the best interest of LLC and its owners. There can be also other reasons to lose limited liability.
How does an LLC designation protect businesses in law suits?
Rather than protect the company a LLC protects the individuals who own the company. BY essentially allowing the law to treat the LLC as a individual itself it protects the owners from individual legal action to some degree. In a Limited Liability Company (LLC), the owners are only as financially liable for the actions of the company as the amount of money they have invested in it. In this way, the LLC designation does not protect the business in law suits, but rather the non-business-related assets of the owners.
If 4 partners create an LLC and one of the partners forms a different additional LLC and doesn't pay his loan can the loan company go after the four partner LLC for money?
The definition of an LLC is a limited liability corporation. And as such each partner has a very limited liability to the actions of other partners. If a scam is involved then an investigation will be launched into who was involved but as far as financials go I believe that the company will take the hit on a defaulted loan and not the partners own pockets.
