Do I always need clear boundaries for personal and business assets?
Asked 2 years ago
My business partner and I want to be members of our LLC that we are planning to register soon. I am still not clear on the risk with regards to the boundaries between my personal and business finances. I am still not clear on the risk with regards to my personal assets. Do I have to constantly make sure there is a clear separation between my assets and the business assets to avoid confusion if the worst were to occur?
Benito Russell
Monday, September 12, 2022
With any business venture, it is always a good idea to set clear boundaries for personal and business assets and finances. When you mix personal and business finances, you don't have a clear picture of how your business is actually doing. And, if the worst should happen, your personal assets are not protected from liability.
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