is there away to protect my house with the equity in it if I have a business that is a corporation that goes bankrupt?
(I have a partner in the business and we are both 50-50 stockholders)
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is there away to protect my house with the equity in it if I have a business that is a corporation that goes bankrupt?
(I have a partner in the business and we are both 50-50 stockholders)
The time to start thinking about protecting your assets is before your business gets in trouble. For example, an Illinois couple can keep title to their home in tenancy by the entireties. That will help. Also, you could refrain from personally guaranteeing debt if at all possible.