Liabilities prior to incorporating?

[Puritan-ky]

What is the name of your state? Kentucky


I recently organized my business into an LLC after running it solely for over a year. My question is, can I still be held personally liable for business practices prior to organizing into an LLC? Or would liability now fall onto the business itself?


Thanks for any help!

 

[divgradcurl]

What is the name of your state? Kentucky


I recently organized my business into an LLC after running it solely for over a year. My question is, can I still be held personally liable for business practices prior to organizing into an LLC? Or would liability now fall onto the business itself?


Thanks for any help!

Any liabilities for stuff before the formation of the LLC you would remain personally liable for. If you have debts, or other contractual obligations, you might be able to get the creditors or obligees to transfer the debts or obligations to the LLC, but they don't have to.