Reality Posted November 29, 2005 Report Share Posted November 29, 2005 A couple of questions for you experts. There's a site on-line that will make your business an LLC for $129.00. Any drawbacks to this? Also, I'm designing a logo for my new HI business. Do I legally have to have "LLC" printed after the name on vehicle signs, business cards, etc.? Thanks for any information. Quote Link to comment Share on other sites More sharing options...
Jim Morrison Posted November 29, 2005 Report Share Posted November 29, 2005 Reality, Generally speaking, home inspectors give dangerous legal advice. I bet that every dollar you would pay a real live lawyer to set you up and advise you today will save you a hundred dollars down the road, maybe more. Hire an expert. You'll be glad you did, Quote Link to comment Share on other sites More sharing options...
Reality Posted November 29, 2005 Author Report Share Posted November 29, 2005 I realize that unless you're a lawyer, you can't give "legal advice." I'm just looking for general business advice. "LegalZoom" says that instead of paying $1,400. plus, they can do it over the internet for (the minimum package) of $129. I don't know if I should go the LLC route, but I don't want some greedy, sue-happy, low-life homeowner trying to take my personal assets and put me in a life of poverty. I've worked with the public for many years and I know how devious and low-down some people can be. Trust no one. Quote Link to comment Share on other sites More sharing options...
Jim Morrison Posted November 29, 2005 Report Share Posted November 29, 2005 General business advice says this: As much as you'd love to believe that $129.00 advice is as good as $1400 advice, it aint. If you want real protection, hire a real lawyer and pay her real money. Once you sign the check, I promise you, you'll never regret it. Quote Link to comment Share on other sites More sharing options...
DonTx Posted November 29, 2005 Report Share Posted November 29, 2005 $1400 sounds a little high, but it would still be worth it. Here in Houston, I can get a C corp made up for under a grand. With all the advice that comes with it, it will be a much better bargain than a $129 internet special. Most attorney's will give you a free consultation. Just tell them what you want, what your fears are and they'll be more than helpful explaining your options. Try several on for size. By the way, even with an LLC or C corp, a money hungry homeowner with a good lawyer will be able to put you in the poor house. Never think that a LLC or C corp will protect you from liability. Granted, they may be a good speed bump on the way to your bank account, but a good attorney will more than likely get there, especially if you were negligent. If things like this keep you awake at night, this probably isn't the field for you. Every inspection you do is a potential lawsuit. Good Luck! Quote Link to comment Share on other sites More sharing options...
kurt Posted November 29, 2005 Report Share Posted November 29, 2005 What Donald said. If anyone thinks that an LLC, S Corp, C Corp, or whatever protects them in this business, they are not well informed. It's a good idea to set up a business structure, but if you are doing it for protection from lawsuits, don't bother. Quote Link to comment Share on other sites More sharing options...
BlackJack Posted November 29, 2005 Report Share Posted November 29, 2005 Toss the dice and take your chances. As far as Lawyers go. What's 10,000 lawyers at the bottom of the ocean..... (Ans.) A good start. (Joke) There is no REAL good "expert" advice, because no matter what, when you have to go to court, even if you win, you lose. It all boils down to one thing, does not matter if your an LLC, C Corp or anything in between, what matters is how you are preceived by the jury on that day in that court. If the jury can preceive that you formed an LLC to aviod responsibility, than that would be very bad. That would be what the plantif's lawyer might try to do. Slimey B--stards that they are. So in the end, the only expert advice given here, (because you are asking for legality) would be to defer to the Slimey B--stards. Oh... BTW Opinions vary. Quote Link to comment Share on other sites More sharing options...
Reality Posted November 29, 2005 Author Report Share Posted November 29, 2005 Louisiana requires $300K E&O and $300K general liability insurance. If you were in my shoes, would you go the LLC route? If an LLC affords limited protection, is it worth it? Will an LLC allow me to sleep more peacefully at night? Apparently most HI businesses on this site aren't LLC's. Am I correct? Quote Link to comment Share on other sites More sharing options...
chrisprickett Posted November 29, 2005 Report Share Posted November 29, 2005 My CPA, set up my last LLC. She only charged me the filing fee, about $35. I could have done it myself by just walking it through the various beauracrats. Quote Link to comment Share on other sites More sharing options...
Reality Posted November 30, 2005 Author Report Share Posted November 30, 2005 Thanks for all the information. I'm going the LLC route. Quote Link to comment Share on other sites More sharing options...
paul burrell Posted November 30, 2005 Report Share Posted November 30, 2005 Originally posted by BlackJack Toss the dice and take your chances. As far as Lawyers go. What's 10,000 lawyers at the bottom of the ocean..... (Ans.) A good start. (Joke) There is no REAL good "expert" advice, because no matter what, when you have to go to court, even if you win, you lose. It all boils down to one thing, does not matter if your an LLC, C Corp or anything in between, what matters is how you are preceived by the jury on that day in that court. If the jury can preceive that you formed an LLC to aviod responsibility, than that would be very bad. That would be what the plantif's lawyer might try to do. Slimey B--stards that they are. So in the end, the only expert advice given here, (because you are asking for legality) would be to defer to the Slimey B--stards. Oh... BTW Opinions vary. May I assume that you have a low opinion of lawyers [:-graduat. Paul Burrell Quote Link to comment Share on other sites More sharing options...
Jim Morrison Posted November 30, 2005 Report Share Posted November 30, 2005 Good information from an unlikely source: http://www.nachi.org/inc.htm Quote Link to comment Share on other sites More sharing options...
slinger2k Posted November 30, 2005 Report Share Posted November 30, 2005 Setting up an LLC is less than hours work on an attorneys template and filing the paperwork w/ the state. At most, the process should cost you $200 - or a case of beer if you have an attorney friend Quote Link to comment Share on other sites More sharing options...
hausdok Posted November 30, 2005 Report Share Posted November 30, 2005 Hi, I'm an idiot about business matters. I like to inspect, but all this other stuff makes my hair hurt. When I'm looking for free business advice I always go here. http://www.sba.gov/training/courses.html ONE TEAM - ONE FIGHT!!! Mike Quote Link to comment Share on other sites More sharing options...
Bradd Judd Posted December 8, 2005 Report Share Posted December 8, 2005 Dear Realtiy, The answer is yes.....any advertising material...Phone books, Newspaper, Big sign in front of your house.......will require you to include LLC, Corp, Inc., Etc. Etc. The reason we do this is two fold: 1. We do not want our corporate vail pierced and our personal assests and monies siezed by unscrupulous attorneys. 2. We Form LLC's Corp's, C and S corporations depending on our federal and your state tax structure. Your best route is to find a CPA you trust and Ask him which is right for your area and the upcoming tax laws (not HR Block) and then You may form your corporation. Whichever it may be, the simple process is usually found on your secretary of states website. Usually less than $100 to form a corporation........ Don't forget you minutes!!!! Brad Quote Link to comment Share on other sites More sharing options...
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