If I just purchased a business under a new LLC, which documents, if any, do I need to save from the old LLC?
Question Details: Examples of documents I'm looking at with the old LLC are time sheets, employee applications, incident reports, drug testing forms. These all have the old LLC. Do I need to save them or may I shred them?
- Auto Accidents
- Child Custody, Support, Adoption
- Collections and Debt
- Consumer and Lemon Law
- Criminal Defense
- DUI / DWI
- Divorce, Marriage, Alimony
Did you buy the actual old LLC itself? If you did, then so long as the old LLC is in existence and you are the owner of it, you need to retain those documents because the old LLC could potentially face employee-related liabilities or claims and those documents would be germane to them. But if you bought the business's assets (e.g. accounts, "good will," inventory or equipment, etc.) but not the LLC, you can shred those: your new LLC is a separate legal entity (or "person") than the old one, and is not liable or responsible for what the old LLLC.