PDA

View Full Version : Is my S-Corporation in danger, if there is a personal judgement on me?


Jeremy114
Feb 14, 2010, 10:42 PM
I am currently the sole proprietor of a business. If I transfer the business form a sole proprietorship to a S-Corporation, can a personal judgement against me harm the corporation? I want to have the S-corporation under my name.

AK lawyer
Feb 14, 2010, 11:51 PM
A judgment creditor could seize your interest in the corporation and then have access to corporate funds, and sell off all assets of the corporation. It might be more involved than levying on other assets belonging to you, but in theory it could happen.