Originally Posted By: Robert Jonston
This post was automatically imported from our archived forum.
This may have been discussed before, but I have not learned how to quickly search old posts (56k).
I am considering starting an inspection business and am trying to determine the best organizational structure. LLC is my top choice right now. My main goal is to isolate the business from personal assets. Business assests will be limited. In short, if I am sued for a business issue, I would like to limit potential losses to business assets - don't want to lose my daughter's college fund etc.
Can this isolation be accomplished? I am also considering E&O insurance but currently believe it is cost prohibitive for a part time inspection business (I am an Civil Engineer / Construction Manager by day) and I think it may even spur on a lawsuit through "deep pocket" theories.
Any thoughts / experiences would be appreciated.