Limit Personal Liability
Keep in mind that corporations are considered to be independent legal entities, and that corporations can be based in any state, no matter where the owner lives. The best strategy to make yourself judgment-proof is to take advantage of these two facts:
- If a corporation is run properly, you can protect yourself from today’s litigious society, insulate yourself from lawsuits, and make yourself virtually judgment-proof.
- In Nevada you will have protection for Directors and officers from personal liability for lawful acts committed on behalf of the corporation or by the corporation.