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  • #983364
    ozzytee
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    Hey everybody,

    Was hoping to get some help on a few questions before I hired a business advisor.

    First, which is the best way to structure a company to protect me from financial danger in the case of bankruptcy?

    And Second, I basically just wanted some assistance and hopefully pointed into the right direction on how I should go about gathering funds to kickstart the business?

    All help and advise is much appreciated.

    Thank you,

    Ozzy.

    #1141982
    Anonymous
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    • Total posts: 11,464
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    Hi ozzytee,

    Welcome to Flying Solo :)

    It’s great to read that you’re looking to hire a business advisor to help you with this decision.

    In the meantime, there may well be some folk around here who can give you some general advice, but they’ll probably need a bit more info before they can.

    Can you share any more info with us?

    And thanks for joining the forum, by the way.
    Jayne

    #1141983
    PRO
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    Structure depends on situation.

    A company limits your liability to the value of your shares in that company but does not protect the company from your personal creditors as the shares are assets.

    Owning the shares in a discretionary trust can help with that as long as the DT does nothing else.

    Can also own the business through a discretionary trust with a company as trustee.

    Personal advice from a lawyer is your best bet.

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