How can I protect my home if our business is sued?
Question Details: My home is the business address at this time.
If you haven't already, create an LLC or limited liability company and run the business under it. The owners (called "members") of LLCs are not liable for judgements (e.g. from lawsuits) against it, or its debts and obligations, which means that property you personally own (e.g. the house) is not something someone suing the LLC can get. There are some expections, such as if you comingle or combine LLC and your personal money, since doing so shows that the LLC and you are actually one and the same, so you'll want to set up a separate LLC bank account and only have the LLC directly pay its own expenses and not your personal expenses (as the owner, you can take money out of the LLC--i.e. profit from it--but you'll want to take the money out first, then pay expenses from your own funds or bank account, and not have the LLC directly pay personal bills, debts or expenses).