Updated about 11 years ago on . Most recent reply
Transfering Assumed Name from Sole proprietorship to LLC
My wife and I started doing some marketing to find off-market deals under an assumed business name (we registered the business name using our personal names). We are now setting up an LLC to do business under...we will end up having separate LLCs to handle the properties we hold vs. fix/flip or wholesale.
If we assign our business name over to the LLC, any input as to whether we are possibly at risk later if someone wanted to try and hold us personally liable for something done under the business name. I've heard that a lawyer trying to "pierce the corporate veil" could use the fact you that the business was originally formed as proprietorship. Any thoughts?