Organizing your Personal Assets Package - Nevada 2025

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As a general rule, if the LLC cant pay its debts, the LLCs creditors can go after the LLCs bank account and other assets. The owners personal assets, such as cars, homes, and bank accounts, are safe. An LLC owner only risks the amount of money he or she has invested in the business.
Although the general rule is that the owners, or members, of an LLC are not personally liable for the debts of the business, they may be found liable in at least two situations: when they personally guaranty the debt, and, in very limited circumstances, when a court decides to pierce the corporate veil and hold them
You can establish an irrevocable trust and take other steps to protect your assets if your business is sued. If you do not have an adequate asset protection plan in place, your personal wealth could be at risk because of your business liability. Your family could lose your house, your savings, and other assets.
A Nevada Asset Protection Trust, or NAPT allows individuals to protect their wealth and assets from lawsuits, creditors and judgments. A Nevada Asset Protection Trust allows you to choose yourself as a beneficiary, and money can still be distributed to others while being protected under the NAPT.
Limited liability company (LLC) LLCs protect you from personal liability in most instances, your personal assets like your vehicle, house, and savings accounts wont be at risk in case your LLC faces bankruptcy or lawsuits.
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An LLC wont protect a member who commits a wrongful act or is negligent in a way that results in harm to another person, such as fraud or assault.

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