For the last 5 years, I`ve been a sole proprietor. It`s very simple and I don`t have to separate my personal and business accounts. I`m going to be buying a house with my girlfriend, and I don`t want her to be liable for my business debts. I would like to know all the steps I need to do to change my business to an LLC.
I currently have about $15,000 in business debts. I`m hoping that if we buy the house after I switch to an LLC that our house won`t be affected if I have to file for bankruptcy. I understand that my other assets that I`ve owned before I became an LLC would probably be in jeopardy. Am I wrong about this???
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