Has an LLC ever protected you first hand?
So I know this a long running debate about whether a LLC is worth the trouble particularly due to the well known issues of getting conventional financing for one. Many people passionately encourage having every property in a LLC for asset protection purposes but can anyone share a first hand experience where doing so protected them or someone close to them. I'm not talking about the story a lawyer or guru once told you but actual first hand experience. I own a service business in addition to a rental property and the service business is held in a LLC but I can honestly say that that hasn't once benefited me. Sure I may sleep better at night, but owning rental properties in a LLC is much more difficult and I'm curious to hear if it has ever actually provided anyone real tangible protection to justify the trouble.