CORPORATIONS AND LLCs: 

If you are operating your professional office (medical, dental, pharmacy, ect...) business or real estate investments as a sole proprietorship or partnership, your personal assets may be vulnerable. 

One of many benefits of incorporating or setting up an LLC is to protect your personal assets from potential liabilities from your business or investments.  This is also known as Limited Liability Protection.  Without the protection provided by a corporation or LLC, creditors or other claimants may be able to attach personal assets including garnishment of personal salary, attachment of personal bank accounts, attachment of your home, and seizure of other personal assets. 

By forming a corporation, professional corporation or LLC, and following all corporate formalities, you insulate yourself from various liabilities, including the negligence of co-workers. The only amount you have at risk is property and investment that you put into the corporation or LLC.  Other benefits include certain tax advantages that are afforded to corporations and LLC.