RENT Magazine Q3 '21

In the courtrooms where you either get to keep what you’ve worked a lifetime to create or are forced to turn it over to someone else, the promise of protecting assets from the claims of creditors is merely an illusion in roughly half of all court cases brought in state or federal courts.

In other words, it's a coin flip.

That is unless you have 35 partners or own your rental properties in a public company. If that’s the case then you can depend upon what you’ve been told about the ability of corporations and LLCs to protect you because, according to the authors of that Wake Forest Law Review article cited above: " There are no cases in which courts pierced the corporate veil of a public corporation – piercing the corporate veil is limited to close corporations." Protecting LLCs and Corporations Most states define a “close corporation” as one that is owned by 35 or fewer

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