Should One Turn an LLC Into A C-Corp
A C-Corp offers much better protections over an LLC (LIMITED Liability Corporation); the primary word being "limited" which declares it to not be fully shielded from larger lawsuits. There is still a liability if a lawsuit goes over ~$250,000 (depending on the county/state laws). Think back to Enron which stole billions of dollars from it's shareholders and investors - not one of it's corporate officers were held liable (only a few middle management types). This is the power of a C-Corp or S-Corp over an LLC.
If the assets within an LLC (or multiple LLCs) are highly valuable, one should keep them separated into multiple C-Corps. A corporation only costs a few hundred to start in most states (max $500). If one has existing C-Corps, one may use those.
Simply convert any LLCs into to C-Corps to reduce one's liability greatly. This is often done by having the C-Corp acquire or purchase the LLC (and its assets) for $1.00 in lawful money.
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