Legal Question in Credit and Debt Law in Iowa

Responsibility for Husbands Business

My husband wants to open a bar business with a friend I don't trust. What legal responsibility do I have? For example, debt that wouldn't get paid, lawsuits, etc.? If my name is on nothing? Also, would our joint property be in jeopardy (houses, cars, etc.) The Bar would be in an LLC but it still concerns me. I'm concerned they could put liens on joint property as well as my 401K, etc.


Asked on 9/19/08, 10:22 am

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: Responsibility for Husbands Business

Make sure your H is not personally liable on anything (lease taxes LLC obligations etc.)

YOu should have an attorney review your complete financial situation to protect assets.

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Answered on 9/19/08, 7:12 pm


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