With some planning and by following proper procedures, assets can be protected from personal creditors. It is always recommended that business founders consult with an accounting professional to determine proper business entity selection, tax election and other matters. Especially in your situation -- share the financial details with your advisers -- this would be money well spent.
NOTE: The response given does not form an attorney-client relationship and it is provided solely as the opinion of the author. It is for informational purposes only under the AVVO terms and conditions. If a legal opinion or representation is desired, please seek independent legal counsel.
REQUEST: Please give this answer a "thumbs up" if you find it valuable.
Tom Gimer, Esq. -- licensed in DC and MD -- 202.556.4LAW (4529)