Asset protection for business owners can be complex, especially when business activities may put personal property at risk. Fortunately, there are many strategies business owners can use to protect personal and business property.
Advantages and Drawbacks of an LLC
One of the most effective asset protection strategies is the limited liability company. LLCs separate the owners’ personal assets from those owned by the business, so if the company comes under fire, the owners’ personal belongings are kept safe from seizure.