11. Don’t give of gift property to anyone.
12. Don’t transfer assets to anyone unless it is a genuine sale for fair value.
13. Don’t cash out retirement plans or 401k’s.
14. Don’t gamble.
15. Don’t hide assets or debts.
16. Don’t forget timeshares or co owned property.
17. Don’t omit unfiled legal claims you have.
18. Don’t forget stock options, profit sharing plans, or pension rights.
19. Don’t take out payday loans.
20. Don’t put your money in your children’s bank account.
The Survival of Your Business: How Subchapter V Saves Your Business from Bankruptcy
In business, financial distress is an unfortunate reality that companies face. Downturns in the economy or unavoidable major expenses could suddenly push even the most resilient of companies to bankruptcy.
May 21, 2025
