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Updated over 10 years ago on . Most recent reply

Yuri Chernousko's profile image
Yuri Chernousko's profile image
Yuri Chernousko
  • Investor
  • from Santa Cruz, CA
  • Member since Dec 10, 2014
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29
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Yuri Chernousko's profile image
Yuri Chernousko's profile image
Yuri Chernousko
  • Investor
  • from Santa Cruz, CA
  • Member since Dec 10, 2014
Connect
Yuri Chernousko
  • Investor
  • Santa Cruz, CA
3
Votes |
29
Posts
Insurance

What are the practical reasons for an LLC?

Yuri Chernousko
  • Investor
  • Santa Cruz, CA
Posted

I wonder if there are convincing reasons for setting up an LLC. I understand that it may be pierceable in case of a suit. Plus, if I need to finance through a bank, the bank may call the loan if it discovers that the property has been moved to an LLC. What advantages does an LLC provide compared to an umbrella insurance?

Thank you.

Iouri

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