Dissolving LLC After Property Sale - Future Liability Concerns

[Art Altman]

I sold a rental property held within a single member LLC. I would like to dissolve the LLC. However, I read an article that says I should keep the LLC in case of a future lawsuit by a former tenant. If the LLC is dissolved, I could be sued personally. The article recommends keeping the LLC in place until the statutes of limitations passes.

Is this advise accurate?  I would think the liability insurance I had in place during the prior years of ownership would still apply if a lawsuit was filed in the future.

From article:

"The dissolution of the LLC distributed all of the potential liability onto you. That's what happens when you dissolve a legal entity, the assets and liabilities are distributed to the owners. And “liabilities” includes any and all unknown liabilities that might be alleged in the future.

This is why the really savvy investors leave that LLC in place, inactive, for a sufficient period of time for all time periods for lawsuits to expire, called "statutes of limitation."