Are My Personal Assets Protected if I Form a Single Member LLC?

The creation of a Limited Liability Company (commonly referred to as an LLC) does offer some liability protection to the assets of the sole person who files it.

So long as a limited liability company conducts business under its own name (versus the personal name of its owners), the entity should be responsible for any liability it assumes – not the LLC’s owners.

However, should the owners: engage in business under their own name; not maintain the limited liability company as a separate entity from themselves; co-mingle its assets with that of the owners; or should the owners personally guaranteed debt of the limited liability company — then personal liability could be visited upon those owners.

To create a Limited Liability Company in any USA state, see Standard Legal’s LLC document software package.