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It sounds like what you are discussing is a personal liability unrelated to the business which you want to protect from your personal creditors by contributing to an LLC. This is not the usual way that an LLC is used to limit liability. Normally, the idea is that you put business assets into the LLC and that creditors of the LLC arising out of contracts that ...


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An LLC isn’t a corporation to start with So it can hardly be a sham corporation, can it? An LLC is a hybrid structure with some of the features of a corporation and some of the features of a partnership/sole trader. One of the features it shares with a corporation is that it is a legal person so, unless the contracts it entered explicitly bound you, they don’...


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