Q: I am purchasing a property under my LLC the property also have a bar that is being sold with it should I create a LLC
A separate LLC for the bar
A: While there may be specific circumstances that influence the decision to form separate LLCs, my general recommendation is to do so. Establishing separate LLCs can raise your expenses and increase the time you invest, but it offers significant protection for both your personal assets and your property from liability. I advise consulting with a lawyer to determine the most effective structure for your situation. Notably, Ohio has recently permitted the use of Series LLCs, which might be suitable in your case. Best of luck on your new venture.
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