>> Second, if he had organized his properties in a favorable LLC state like Ohio or many others but not NY or FL...
At his core, he’s a brawling construction guy from Queens (and when those “make it” they spend it in Florida). He’d rather go broke in New York than own Ohio.
I don’t understand it myself, but it works for President Trump (and overall his quirks accrue to the benefit of We The People).
It is really easy. The LLC is organized in Ohio and registers as a foreign LLC in New York and takes title to Trump Tower or whatnot. Ohio rules apply. Creditor gets nothing until the LLC distributed money to Member.
Malpractice for using a NY LLC where judgments against a member can be used to liquidate their interest in the company, just as shares of stock can be seized and sold.
I’ve had to tell that sorry fact to many NY lawyers who don’t know how to protect assets.