Protection by Corporations and LLCs for Personal Services
I was recently told by an individual that they had formed an LLC to protect their assets from liabilities and lawsuits associated with the work they were doing through the LLC. The work they were providing was personal services in the medical field.
Unfortunately for them, the LLC would be of little protection. It may protect you personally from a breach of contract, however, as a professional we are all responsible for our own actions. Setting up a corporation or a limited liability company doesn’t change that. If you want to protect yourself against lawsuits and claims associated with personal services you are providing, get insurance!