I understand that an LLC acts as a legal barrier to protect your personal assets (savings, home, car, etc...) if you were taken to court on a judgment, all of those items unless extreme occasion are untouchable.
Now let's say that me the person gets sued (car accident for example) and insurance has done everything they can but now ambulance chasers managed to come after me. If I was to have all my savings in the LLC, prior to the accident of course, the question is:
- Would that money be untouchable since it's inside the LLC?
- Or in other words, can you protect yourself by putting your assets inside the LLC?