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    mpappolla's Avatar
    mpappolla Posts: 1, Reputation: 1
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    #1

    Aug 4, 2011, 06:46 PM
    Is an llp protected from personal judgement?
    What kind of a bisiness structure is then the best to shield the bank account of such structure from personal jedgements against its owner. I heard an LP would offer such protection, to avoid disruption of business operations. Is that correct?
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    AK lawyer Posts: 12,592, Reputation: 977
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    Aug 4, 2011, 09:13 PM
    A limited partnership or other business form you own is not, in theoryy insulated from your personal debts. Once a judgment creditor can sort out exactly what share you own in the company, it can grab that share. And there is no exemption from execution for your ownership interest, in general.
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