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I'm with Locke here. What difference does it make? As long as you properly declare your income, and aren't in a position that you're going to get sued, you should be ok.


How do you know you "aren't in a position that you're going to get sued?"


Yah, the whole point is that living in this litigious society means anyone can sue for anything. Losing a house doesn't necessarily mean you lost a reasonable case.

It means you lose in trying to fight. Essentially, I'm trying to spend as little on lawyers as possible.


You don't have to spend anything on lawyers to create a legal entity with liability protection. It really is simple and quick.


If you have to ask the question, you probably don't have to worry about it. :-)




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