As a fresh CFI (MEII, but no students yet. Currently swimming in the FSI pool) I am wondering how others have approached being a CFI from a finacial outlook. Especially since as a CFI at FSI and I assume other large schools, you are actually considered an independant contractor. The reason for this I quess is to protect the school from liability issues. But how can I protect myself? (If I do my job correctly nothing will happen, but what if something does?)
The advice I have recieved has ranged from "hide all your assets off shore" to the more realistic "incorporate yourself" or "purchase AOPA CFI insurance".
How does one actually go about becoming incorporated and will it really help? Is that AOPA insurance worth it?
It not like I have millions of dollars or anything but enough that it would probablly be worth a lawyers time to go after.......
The advice I have recieved has ranged from "hide all your assets off shore" to the more realistic "incorporate yourself" or "purchase AOPA CFI insurance".
How does one actually go about becoming incorporated and will it really help? Is that AOPA insurance worth it?
It not like I have millions of dollars or anything but enough that it would probablly be worth a lawyers time to go after.......