Before a
business bankruptcy, be sure to move all personal assets (car, boat, liquid
assets) into at a few trusts before a bankruptcy is filed for, in case of
personal guarantee of business debts. Any business equipment that is non-essential
can be transferred out into a trust – given there is a somewhat fair value exchange
given. It may even be for advertising, management, digital information of value
(like these digital programs), trustee working hours for the company – the list
goes on. This is essential otherwise the courts would rule this a fraudulent
conveyance due to obvious ethical issues.