LLC- Is it a consideration to own a light copter via a LLC entity with the intend of reducing liability beyond what insurance provides? In case of a complex situation that might exceed normal limits or that invites some nut suit ?
TIA
Scrap
LLC as an ownership entity?
Moderator: Ron Spiker
3 posts
• Page 1 of 1
Re: LLC as an ownership entity?
by Ron Spiker » Wed Nov 17, 2010 3:12 pm
Yes, lots of people do this.
-
Ron Spiker - Site Admin
- Posts: 530
- Joined: Sat Mar 22, 2003 5:33 pm
- Location: Pittsburgh, PA
Re: LLC as an ownership entity?
by N2285U » Wed Nov 17, 2010 7:34 pm
It only protects you if you are not the one flying the helicopter. If you are flying the helicopter and cause monetary or phyiscal harm due to your actions you will be sued for negligence in you operation of the aircraft. It is a good practice to put all of your assets into a trust and the helicopter into an LLC. You should own nothing.
If your wings aren't turning, they are broken and you had better get them fixed....
- N2285U
- Posts: 80
- Joined: Wed Mar 26, 2003 10:34 pm
- Location: Auburn, IN
3 posts
• Page 1 of 1
Who is online
Users browsing this forum: No registered users and 1 guest