LLC for holding brokerage (taxable) account?

[GI-TX]

I believe I saw something like that mentioned in one of the Rich Dad books. Is this a good idea?

[jfoxcpacfp]

GI-TX wrote:

I believe I saw something like that mentioned in one of the Rich Dad books. Is this a good idea?

Click to expand...

LLCs are typically used for investing clubs so I suppose you could use it for one person. This article explains what to do, but this is one instance I would recommend you consult with an attorney before setting it up. imho, it would be less complicated if you simply used insurance for protection (umbrella, malpractice, P&C).

[GI-TX]

jfoxcpacfp wrote:

GI-TX wrote:

I believe I saw something like that mentioned in one of the Rich Dad books. Is this a good idea?

Click to expand…

LLCs are typically used for investing clubs so I suppose you could use it for one person. This article explains what to do, but this is one instance I would recommend you consult with an attorney before setting it up. imho, it would be less complicated if you simply used insurance for protection (umbrella, malpractice, P&C).

Click to expand...

Thanks so much for the information!