A conversation I had earlier this month answers the question.
- Debt relief? Not hardly. There’s no practical way to shift personal debt to an LLC.
- Easier to borrow money? Not likely. Lenders and credit card companies want a personal guarantee before extending credit to an LLC.
- Protection from liability for your negligence? Almost certainly not. You’ll be personally liable for your negligence, malpractice and errors committed while working for the LLC.
- A place to hide assets from creditors? No way. Nearly all states allow creditors to claim an owner’s interest in an LLC, either with a charging order or foreclosure or by having the LLC dissolved.