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: Paul Sehorne
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Ron Spiker
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Re: LLC as an ownership entity?
Yes, lots of people do this.
Re: LLC as an ownership entity?
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....