Seven Deadly Legal Mistakes in Personal Guarantees & Asset Protection

Seven Deadly Legal Mistakes in Personal Guarantees & Asset Protection
Shield Your Home, Savings & Personal Wealth From Business Liabilities - Without Going to Law School
by Brett Bacon, Esq. (over thirty years of experience as an attorney-at-law)

Book Fifteen in the Bestselling Seven Deadly Legal Mistakes Series for Entrepreneurs and Small Business Owners

You formed the LLC.
You opened the business bank account.
You signed the lease.
You bought the insurance.
You built the business.
You thought your personal assets were protected.
Then the landlord asks for a personal guarantee.
The bank wants your signature.
The supplier credit application includes guarantee language.
The business credit card may make you personally responsible.
The equipment lender wants more than the company's promise.
Suddenly, the risk is no longer just business risk.
It is personal.
Your home.
Your savings.
Your credit.
Your family finances.
Your future.
Many business owners believe their LLC or corporation automatically protects everything they own. That belief can be dangerously incomplete. A business entity may help protect an owner from certain business liabilities, but it does not erase personal guarantees, personal promises, sloppy financial separation, tax obligations, or last-minute asset-protection mistakes.
A personal guarantee can turn business debt into personal debt.
A lease signed for the company may still follow the owner home.
A supplier account may become a personal collection problem.
A bank loan may reach beyond the business.
A business credit card may affect personal credit.
>In this volume of the Seven Deadly Legal Mistakes Series, business attorney Brett Bacon explains the common mistakes business owners make when they personally guarantee business obligations and fail to protect personal assets before trouble starts.

Inside, you will learn how to avoid:
- Assuming your LLC automatically protects everything you own.
- Signing personal guarantees without understanding what you are really promising.
- Failing to limit the scope, amount, and duration of a guarantee.
- Putting your home, savings, and family finances in the line of fire.
- Mixing business and personal money until no one can tell the difference.
- Waiting until the business is in trouble to think about asset protection.
>This book is not a technical asset-protection manual.
It is not a guide to hiding assets.
>Instead, this book is designed to help business owners understand where personal liability risk quietly enters ordinary business life-and how to recognize, limit, and manage that risk before it becomes a crisis.
Whether your business is signing a lease, opening a supplier account, applying for a line of credit, financing equipment, using business credit cards, expanding locations, or trying to understand what your LLC actually protects, this book provides a practical, plain-English guide to avoiding the legal mistakes that can expose your personal wealth to business liabilities.
If you own a small business, your company may be separate from you.
But your personal guarantee may not be.
>About the Author
Brett Bacon, Esq., is a licensed attorney and entrepreneur with more than three decades of experience working at the intersection of law and business. He has advised business owners, executives, and founders on the legal realities of building, operating, structuring, expanding, buying, selling, defending, and protecting closely held businesses under real-world con