What's the best way to protect personal assets from business debts when incorporating?

This is a tricky question because it depends. But, for example, if it is a small company with one owner, no outside directors and the owner continually mixing personal funds with business funds, it is common for courts to "disregard the corporate entity" and allow the plaintiff in a case to go after the personal assets of the business owner.

In my experience insurers rarely cover liabilities you actually will encounter and often fight as hard against you as the plaintiff is. But there may be insurers who operate differently.

Answered 1 year ago by Justin Call

There are definitely insurance companies that operate differently. General liability is a good first pit stop for you to make "typically".

It really depends on the nature of the business

Answered 1 year ago by Justin Hayward

To go a little further down the road, once incorporated, it is incredibly important to keep and maintain an up to date minute book, properly document all corporate actions and make all required state filings to further protect against piercing the corporate veil and reaching personal assets.

Answered 1 year ago by Joanne Wolforth