We work hard to accumulate an estate, allowing us to retire and provide security to our survivors. When you own your own business liability exposure is a constant threat. For example, a patient who slips and falls in the parking lot could sue the physician who owns the property on which his medical clinic is located. The owner of a rental home could be liable to a renter, or to a renter’s guest, who is injured on the premises. The owner of a recreational boat also faces liability from its use.
Insurance should be the first line of defense, but there remain the risks of liability in excess of insurance coverage or the exclusions not covered under an insurance policy. To minimize this exposure, individuals and businesses are turning to a convenient and cost-effective method to shield themselves from potential liability: the Single Member Limited Liability Company.
Call Stone Law today at 877-897-6591 to set up an appointment and discuss if creating a single member limited liability company can work for your business.