Well, the general liability is the financial liability. So, if the LLC borrows money, the lender cannot come after the assets of the individuals (unless they gi

Well, the general liability is the financial liability. So, if the LLC borrows money, the lender cannot come after the assets of the individuals (unless they give a personal guaranty). This also applies if the LLC is sued. I suppose the point here is that a smart person will sue the individual in addition to the LLC. Even if you are sued only as an individual, your ownership stake in the LLC is at risk.