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You are the builder from the FAA's point of view, but your family
partnership is the owner. You could be sued like a manufacturer could be
sued like Cessna for example, but if all of your assets are contained in
your family partnership(s) in the event of a judgement against you the
prevailing party can only obtain your percentage of the family partnerships
that you own.  Assume that you only own 1% and that your family owns the
other 99%, they are now a  1% part of your family partnership but cannot
take any assets unless the family partnership agrees.  In addition your
partnership may decide that it is a good time to assess membership dues to
belong to this partnership which would discourage membership.  I am not an
attorney, but we did carefully research this topic along time ago.  Keep in
mind that in the above scenario your family really does own all of your
assets so it pays to remain on good terms with your family!

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LML website:   http://www.olsusa.com/Users/Mkaye/maillist.html
LML Builders' Bookstore:   http://www.buildersbooks.com/lancair

Please send your photos and drawings to marvkaye@olsusa.com.
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