A few years ago I was running my business as a sole proprietor...(Big mistake) The bank repo'd my truck and trailer and I went out of business. Its been since Jan/2010 since this happened. I have another truck and trailer now and am forming a LLC to run the business as a seperate entity. Im thinking of filing bankruptcy within a year. (personal bankruptcy) Can that effect my LLC since it is a seperate entity? I havent formed it yet and need to know how to form it to protect it from being effected. The LLC would be debt free.What if the LLC had partners...The truck and trailer are not even titled or liscensed yet? So transferring it is not a issue. It will be the first time they will be liscensed in the LLc or our namesfor that matter.Setting it up as a partnership, especially in Illinois would keep it from being taken over by a trustee correct?