It’s a possibility that the bankruptcy court technically can take over your shares of a corporation or your percentage ownership of an LLC. The question is really how much property is owned by that corporation and what the value of that corporation is and the percentage of ownership that you have. Whatever that value is, is technically your personal property and you have to account for that just like the rest of your personal property.
Understanding Florida’s Bankruptcy Exemptions: Protecting Your Assets
Navigating the world of bankruptcy can be a daunting task, especially when you're concerned about protecting the assets you've worked so hard to acquire. Fortunately, Florida's bankruptcy laws include several exemptions that can help safeguard your property and...