Offroad fabrication shop liability insurance

[DGruper]

That’s all fine and dandy from a company structure. Just be careful with any credit you establish to help things flow smoothly. Any decent amount of credit will likely require a personal guarantee (PG) and that PG is not protected by the LLC. So if the LLC fails, you are still on the hook for the borrowed money. Not saying don’t do it, just be aware.

 

[43mod]

Regardless of the entities you set up if they walk like and talk like a duck together they will be viewed as being the same company .

 

[JDDurfey]

Many many businesses do this very practice. Airlines don't "own" their airplanes. They are held by a "leasing company". I know of several construction companies that do this with their heavy equipment. That way if they get sued, they can keep right on working because the equipment can't be touched.

 

[85yota]

Many many businesses do this very practice. Airlines don't "own" their airplanes. They are held by a "leasing company". I know of several construction companies that do this with their heavy equipment. That way if they get sued, they can keep right on working because the equipment can't be touched.

Yes exactly what I have been told by the lawyers

 

[Josh 8]

I think your overthinking this. Here is the deal. If you have a estates that is valued in the millions (10+) then you need all the legal bells and whistles. If your estate is valued at 50 or more million then you would already have it. Nobody wants a tube bender, welder and double wide trailer and old Cummins powered truck.
Just do everything 100% correct. Cut no corners. Use the correct materials. And spend this energy making money. You will be fine. And if your estate does have a high value then focus on how you got that that value. I would guess it wasn’t making sparks on race cars for a living.