An LLC can prevent problems with assets within the LLC from affecting assets outside the LLC, but there are limits to asset protection.

A single-member LLC is not the same as a sole proprietorship. Unlike a sole proprietorship, an SMLLC provides a hybrid business structure that is a separate legal entity from its owner.

Whether you choose a member- or manager-managed LLC, the percentage of ownership each member has does not change. Either choice is also beholden to the articles of organization and the operations ...