Most protective business structure

[jatoz]

We own a small resort in northeastern Wisconsin. Business is REALLY bad and we need to give up our health insurance to help make ends meet.

What do we need to do to protect our business property should we experience catastrophic medical bills while uninsured?

This business is our only source of income and it is also our home. We currently operate as an LLP (Limited Liability Partnership), but I don't know if that protects us.... or if there is in fact any way to protect us.

 

[Michael Wechsler]

I'm not sure what you're trying to accomplish. If your creditors will pursue a debt against you, they will probably seek to obtain your equity in the ownership of any business. I wish you luck... times are tough these days.