Q: If I file personal bankruptcy how does that affect an LLC I have with my brother?
A: The trustee could be interested in your membership in the LLC. For instance, if you are a 50% member, then one half of the value of the LLC would be yours. It will depend on how much that would be worth and exemptions you may have. You really need to see a bankruptcy lawyer near you to determine your best option and what impact bankruptcy would have on the LLC. Hope it works out. Good luck!
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