If I incorporate , (S Corp), and place both my husband and I on the corporation and are sued can they come after our home.

If I incorporate , (S Corp), and place both my husband and I on the corporation and are sued can they come after our home.
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We both wish to be on the corporation, neither one of us wishes to inherit our own business.
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Answers (2)

Daniel Jon Woodring

Daniel Jon Woodring Avvo Pro

Contributor Level 5
This answer should not be considered specific legal advice, nor does it establish an attorney client relationship. The general rule is that if you incorporate, then someone suing the corporate entity cannot reach assets held by the owners of the corporation, and not part of the corporation, but there are exceptions to this general rule. You should talk to a local attorney if you are just setting up a new business, because there are many legal considerations in addition to just the incorporation question that are associated with starting a new business entity up.
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Douglas Ron Coenson

Douglas Ron Coenson

Contributor Level 5
By incorporating you are afforded certain protection but without knowing the facts of the case and how your incorporation is set up, it is impossible to answer your question. For example, if your actions are a result of gross misconduct or if your actions are outside the scope of the corporation's regular day-to-day business, you may be sued personally. In Florida, by filing homestead, you can also provide extra protection from creditors taking your home. There is also business insurance you can purchase to further provide protection. I strongly recommend you speak to a corporate attorney in your local area who can provide you with your different options.
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