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All Up In Yo' Business: LLC or Liability Insurance 

All Up In Yo' Business with Attorney Aiden Durham
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This video is in response to another great question I received from one of my viewers: If I am a sole-proprietor and have a $250,000 liability insurance policy, do I still need to form my business as an LLC? Or in other words, what's the best route to protect my personal liability? An LLC or liability insurance?
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 1580 N. Logan St., Ste 660, PMB 92925, Denver, CO 80203. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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21 фев 2015

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Комментарии : 50   
@qo2097
@qo2097 7 лет назад
Thx that really helps. I'm starting a business in Oregon and going to be part of a farmers market here soon. I did not know what I should do liability wise until I checked your videos. Thx again
@xbox360rook
@xbox360rook 8 лет назад
Thanks Aiden im finally acting on your information. Best of Luck!
@goldtopsrock
@goldtopsrock 9 лет назад
Thank you, great vid!
@ScottA1966
@ScottA1966 6 лет назад
Thank you for the info! It really helps!
@RapidDominance000
@RapidDominance000 9 лет назад
I found this both pleasant and helpful
@SmallLawnzTheSmallLawnPro
@SmallLawnzTheSmallLawnPro 9 лет назад
Thanks Aiden that was awesome. A first, a video aimed at me. I will be doing research on a LLC for me.
@allupinyobiz
@allupinyobiz 9 лет назад
Small Lawnz You're welcome. Thanks for the great question!
@litlesnoopy
@litlesnoopy 8 лет назад
Thanks, awesome video. Is it a common practice for other entities that a company works with to be named as an additional insured on their general and professional policy?
@stuartcharles1110
@stuartcharles1110 5 лет назад
great video, thank you
@TheMundavi
@TheMundavi 6 лет назад
very informative, thank you!!!!
@dair805
@dair805 7 лет назад
Nice video.. Please give me your input; I will be starting a small mobile auto detailing business.. it's only me and I will be going to people's house to clear their cars. I would like to get general liability insurance. I'll be washing, waxing and vacuuming the cars.. What type of insurance would be good? Any insurance company in particular? Thank you!!
@socomhellboy
@socomhellboy 7 лет назад
Hi miss Aiden, question. #1 If I create and LLC with the S-Corp status to do E-Commerce how much do you recommend for liability insurance? #2 if I create a second LLC underneath the first one, do I need to get separate insurance for the second LLC or am I already cover under the first LLC/S-Corp? My second LLC would be for transportation, one member/one car. And does the car need to be insured too... I really appreciate if you can help me.
@sogranaseri25
@sogranaseri25 9 лет назад
Love your videos! Definitely love the advice and the way that you break it down! :)
@Elsanta666
@Elsanta666 8 лет назад
very informative video
@mattweik
@mattweik 8 лет назад
If you have a single-member LLC is it still wise to have addition insurance on yourself (like an umbrella plan) for extra protection in case of a lawsuit?
@newnaturalgirl
@newnaturalgirl 3 года назад
Hi Aiden, what’s the difference between General Liability Insurance and Business Owner Insurance for a newly formed LLC and at what stage in the process should you get it?
@terencegriffith2942
@terencegriffith2942 5 лет назад
awesome video u made
@scotthedrick2460
@scotthedrick2460 4 года назад
The answer to almost every law question is like a packed adult diaper - it depends.
@trendingwithLesenzo
@trendingwithLesenzo Год назад
Right that’s the whole point she will not really answer questions straight to the point cause she’s doesn’t really know everyone business but her own law firm
@bhindigosh1
@bhindigosh1 4 года назад
Thank you for your videos u are great Does one umbrella policy cover multiple properties that in separate llc or you need to get a different umbrella policy for each llc?
@allupinyobiz
@allupinyobiz 4 года назад
Not sure, that would be a great question for an insurance broker! But I believe most policies will cover everything.
@bhindigosh1
@bhindigosh1 4 года назад
@@allupinyobiz thank you very much
@bhindigosh1
@bhindigosh1 4 года назад
@@allupinyobiz i was asking for asset protection does having dual protection a good idea or unnecessary?
@chrisdye7463
@chrisdye7463 8 лет назад
Hello Aiden I am a small LLC in New Zealand wanting to export products into America. I require product liability insurance in the states and to get this I require an american address. Does having a registered agent fulfill this requirement?
@jamieball7520
@jamieball7520 6 лет назад
I’m starting a Baseball organization. Starting out with only 1 team. Should I get an LLC?
@DUCKS2525
@DUCKS2525 4 года назад
Aiden, really enjoy your video's! Question, what are the ramifications of not having liability insurance for my product. The product that I want to manufacture is very expensive to get liability insurance on. If I am a start up with not enough capital to cover a 25K premium. What is the alternative? Could I go without and protect myself through the LLC or Incorporation? Thanks in advance.
@allupinyobiz
@allupinyobiz 4 года назад
Not having insurance just means that you (or your business) will have to pay all expenses (legal fees, court costs, damages, etc.) related to a potential lawsuit or dispute. With product liability insurance, if somebody sues you over something having to do with your products, your insurance will cover those costs (up to your coverage limits). Operating as an LLC or Corp will keep those liabilities with the company rather than you personally, but insurance is still a really good idea. If you can't afford the insurance, then you definitely won't be able to pay fees and damages if you're involved in a lawsuit.
@Nanofuture87
@Nanofuture87 9 лет назад
Say you wanted to be a partner / major shareholder in several businesses that have limited liability (e.g. limited partnerships, LLCs, corporations). Would there be any benefit in getting an "extra layer" of liability protection (either insurance or forming a LLC holding company) or would it just be extra paperwork and fees for nothing?
@allupinyobiz
@allupinyobiz 9 лет назад
Nanofuture87 It's really going to depend on the nature of your business(es). Generally speaking, insurance is usually a good idea and worth the money. But the LLC holding company is really going to depend on the circumstances.
@He172
@He172 7 лет назад
Hello Ms. Kramer. Love the videos. I'm an Illinois resident purchasing rental property in Colorado. Does Colorado law require a Colorado LLC or can I just form an Illinois LLC and use it in Colorado?
@allupinyobiz
@allupinyobiz 7 лет назад
Colorado does not require that you form in Colorado. You could form it in Illinois, however, you may still need to register as a foreign LLC in Colorado, depending on the circumstances, in which case it may make more sense to form in Colorado rather than in Illinois. Please feel free to email me if you would like any additional assistance! aiden@aidenkramerlaw.com
@blaisematuidi179
@blaisematuidi179 5 лет назад
great boy
@roytschaefer3518
@roytschaefer3518 4 года назад
🔥
@JD-im4wu
@JD-im4wu 5 лет назад
Is an LLC for rental income helpful for Babymomma childsupport protection? lol
@michaelanthony492
@michaelanthony492 9 лет назад
Hi Aiden.. could I upgrade my DBA to an LLC or just start over with an LLC..? I would like to keep the business name.. im sorry you may have already answered this question but cant find it.. it's for my Roadside Assistance business .. thanks
@allupinyobiz
@allupinyobiz 9 лет назад
Michael Alanis It will depend on the laws of your state. In Colorado, at least, you can withdraw a registered trade name/DBA name then use that name for the LLC. Or create an LLC with a different name but have the LLC adopt the trade name. Hope that helped! Thank for watching!
@shawnhumphrey443
@shawnhumphrey443 5 лет назад
Hey Beautiful Palm Paradise Property Maintenance LLC we mainly paint and do cosmetic remodel...what do you suggest. Sorry but u are very cute as well im soon married but speak truth. What do you recommend?
@blaisematuidi179
@blaisematuidi179 5 лет назад
nice it
@OldTimersBassChaser
@OldTimersBassChaser 9 лет назад
Hi Aiden, I am thinking about starting a small business selling screen printed T- Shirts, Home Business, since I am retired. Thinking of starting out Sole Proprietor or going LLC. Seems like nothing is easy these days and everyone wants to sue you for something. I not sure if selling these shirts there is high liability. It is hard to find a straightt answer on whats the best way to begin. I am retired Law Enforcement and been sued a view times, even though I done nothing wrong. You having any suggestions? Is this industry a high risk for getting sued? Thank you, Mike
@allupinyobiz
@allupinyobiz 9 лет назад
Street Glide69 I'm not familiar enough with the industry to give you a good answer. But generally speaking, since LLCs are relatively easy & inexpensive, it's usually better to just cover your ass as best as you can.
@OldTimersBassChaser
@OldTimersBassChaser 9 лет назад
Aiden, Thank You for getting back to me. I think I will try it as a Hobby and see where it goes. If it takes off I will probably go with the LLC.
@OGKennyLee
@OGKennyLee 5 лет назад
She is so cute
@lucashanson5860
@lucashanson5860 5 лет назад
nice
@djappleznbizkits6285
@djappleznbizkits6285 9 лет назад
yo i have a question whyami still watching dese. autoplay man. lazyday
@black007die
@black007die 4 года назад
Lol u funny 😆
@romgtr
@romgtr 6 лет назад
what if you have a million dollar Umbrella insurance?
@allupinyobiz
@allupinyobiz 6 лет назад
Then you better hope you don't get sued for two million
@romgtr
@romgtr 6 лет назад
Would the LLC be better than having an $2million Umbrella Insurance? Can I get Umbrella insurance instead of LLC? It seems that either would work and I don't need both.
@jeremythomas6397
@jeremythomas6397 5 лет назад
kamu cantik
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