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Old 07-09-2016, 04:46 PM   #9
Cottontop
Senior Member
 
City: Houston
Vessel Name: Alegrķa
Vessel Model: Overblue 48
Join Date: Jun 2015
Posts: 237
Quote:
Originally Posted by lensming View Post
Devorenm, thank you for your detailed reply! I had not considered there could be any difficulty upon resale. I will have to give this further research, and I will take my time, since I am probably at least two years away from purchase. One of the benefits I was hoping to achieve would be insulating my personal estate from liability should an incident occur where I might be at fault. I have no reason to think or fear my ability to handle a boat, but just being cautious. Many facets to examine. Again, thank you!
You are responsible for your own torts; having the boat in a corp or LLC won't shield you if you are responsible for damaging another. Having the boat in a corp or LLC might (but might not) shield you if someone else is driving the boat, but that's probably not what you're worried about.
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