Originally posted 2014-08-26 14:32:44.
I have discussed why contractors need to incorporate previously here at Construction Law Musings. Among the many reasons to incorporate are possible tax benefits and the protection of personal assets (like your house and your dog) from judgement and collection actions. This latter reason is key in the construction world in which Murphy can look like an optimist and projects have so many moving parts that something is likely to go wrong.
Lately, we have all heard about construction, development, and other real estate related companies going out of business or finding themselves in the unenviable position of filing for bankruptcy in the face of outstanding judgments or debts. We also all know someone who is the head of a construction enterprise and has yet to incorporate.
I am a construction lawyer in Richmond, Virginia, a LEED AP, and have been nominated by my peers to Virginia's Legal Elite in Construction Law on multiple occasions. I provide advice and assistance with mechanic's liens, contract review and consulting, occupational safety issues (VOSH and OSHA), and risk management for construction professionals.
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