Who Should Form An LLC?

If you are worried about personal liability from your business, you may want to consider forming an LLC. If you are involved in legal action, an LLC can help prevent a claimant from taking personal as well as business assets. One example of a kind of business that could benefit from an LLC is a company with a storefront that deals directly with the public. Customers seeking legal action, for example from a slip-and-fall, would not have access to your personal assets. Also, it could prevent creditors from coming after your personal property if you have unpaid bills. Some states prohibit certain occupations from forming an LLC. For example, in California, doctors and other health care workers, architects, and accountants cannot form an LLC.