Michael Bernard Rover’s Answers

Michael Bernard Rover

Palm Desert Real Estate Attorney.

Contributor Level 9
  1. Own a metals/minerals import-export trading business. Expect high profits. LLC, or S-corp? in a business with only one member?

    Answered over 4 years ago.

    1. Dana Howard Shultz
    2. Michael Bernard Rover
    3. John J. Sullivan
    4. Michael Duane Cross Jr.
    4 lawyer answers

    Generally, either and LLC or Corp will prtect you from personal liability for company liabilities. I recommend consulting your tax advisor and having them run a pro forma with your anticipated income as both an LLC and a corp. That will give you an idea of which way you will fare better.

  2. Im a share holder in a LLC business and I want to know if a judgment against me personally can be attatched to the LLC?

    Answered about 2 years ago.

    1. J Patrick Diener
    2. Matthew Erik Johnson
    3. Larry R Schreiter
    4. Michael Bernard Rover
    4 lawyer answers

    A personal judgment can attach to your membership interest in the LLC. As an analogy, imagine you owned shares of stock in Microsoft Corp. A creditor could levy against those shares in an investment account and have the shares sold to satissfy the judgment against you. Similarly, a creditor can levy on your membership interest in the LLC. The big difference is that there is not an immediate market for a membership interest in a small LLC. There is no easy way to convert it into funds to...

    1 lawyer agreed with this answer

  3. I'm a interior designer , I used my own cash to pay items and labors for my client's construction works , now they refuse to pay

    Answered over 3 years ago.

    1. Pamela Koslyn
    2. William James Rogers
    3. Michael Bernard Rover
    3 lawyer answers

    I am not familiar with Illinois law, but several states require contractors to be licensed to contract for construction work then provide goods and services pursuant to the contract--even painting, window tinting, etc. I'm sure at this point you're saying "I'm a designer, not a contractior," but under California law what you are doing is considered contracting and requires a contractor's license. My point is that you need to be aware of any legal requirements that Illinois may impose of...

  4. Unsure of next step, material supplier has issued a notice of lien of funds and lien on real property.

    Answered over 4 years ago.

    1. Michael Bernard Rover
    1 lawyer answer

    You need to consult a NC construction attorney. Depending upon the specific law in your jurisdiction, you probably need to make a demand on the contractor to indemnify you and remove the lien. Practically speaking, if the contractor has no money to remove the lien, you're going to have to fund the fight yourself. A competent construction specialist will be able to tell you if the lien is valid and whether all required procedural steps have been followed for the material supplier to have a...