As a soon-to-be licensed real estate agent, what is the best way to protect my personal assets?

UPDATED: Jun 26, 2013

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As a soon-to-be licensed real estate agent, what is the best way to protect my personal assets?

I am interested in protecting my personal assets in the event that (heaven forbid) I am ever sued by an angry client. I know that Errors and Omissions insurance should help, provided I am not grossly negligent or dishonest but would forming an LLC further protect me personally?

Asked on June 26, 2013 under Business Law, Oregon


Tricia Dwyer / Tricia Dwyer Esq & Associates PLLC

Answered 9 years ago | Contributor

Hello. You should seek legal advice from an attorney who provides business formation and business law counsel pertaining to small business needs in your home state. You may also want to seek the advice of an estate planning attorney at this time. It is good that you know to obtain appropriate insurance. Some attorneys are available seven days for emergency legal needs. Many attorneys will confer initially at no charge. Then, if legal work is performed, some attorneys will provide a reduced fee for financial hardship. Some attorneys may also assist you in limited scope manner to conserve legal costs. All the best.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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