Legal Question in Business Law in Nevada

Re: incorporate for shelter?

Any asset transfer you make can be set aside by your creditors under the Uniform Fraudulent Transfer Act if it has the purpose, or the effect, of "hindering, delaying or defrauding" a creditor. There are things you can do legally to protect yourself to a limited extent, including homestead and taking full advantage of property exemption statutes. You might even consider moving to a state such as Florida where the property exemptions are more liberal. Nevertheless, all states allow the enforcement of creditor claims to some degree and your best strategy might be to negotiate with your creditors for partial payment. See a debt counselor or an asset-protection specialist but avoid schemes that are illegal.