Legal Question in Business Law in Montana

Which to us Corp., Partnership, LLC, Ect.

we are starting a Contractor/Landscaping business with our daughter and son-in-law. My husband and I own a ranch and we are wondering how to go to keep the ranch free from this businesss. If something should go wrong we don't want to put the ranch in jeopardy. We were going to go just individual properietor, but we learned this is the most dangerous to the ranch.

Thank You,

Peggy


Asked on 6/25/03, 11:18 am

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Which to us Corp., Partnership, LLC, Ect.

Liability in such situations is often protected against by creating a corporation or limited liability company to own the ranch or the other business or both, thereby limiting the exposure of the investors to the amount they have invested, and protecting other assets.

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Answered on 6/25/03, 11:25 am


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