Need advice for my plan

[onmyway]

Hi fastlane,
I want to buy a business and I want to protect my personal life as much as possible just in case the business fail. So far I know I that my best bet would be to set up a LLC and (please correct me if I'm wrong) try to put as much as I can in the name of the LLC.Such as financing from banks,investors, etc. Im trying to follow the quote " Own nothing, control everything". Any helpful advice, tips, will be greatly appreciated.

 

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[Kung Fu Steve]

Depends on how "into" it you want to get. If you don't have too much to lose (house, car, regular stuff) talk to a lawyer or your CPA. They can usually handle the registration for LLCs or Corporations. If you have significantly more to lose, talk to an expert like GlobalWealth here on the forum and he can direct you properly I'm sure.

 

[M&T]

Also get an umbrella insurance policy. For a few hundred bucks you can protect your house, cars and personal things.