My husbands business is successful, but I have never really looked at how our personal assets may be exposed if it ever goes belly up. We have a £2m home, which I co-own. So I would like to find out how best we can protect the house and my own half-share of the house against the possibility of the business becoming insolvent.
The business has bank loans, but they are secured against the cash flows of the company, and we have not provided any personal guarantees. We have released money from the house by increasing our mortgage to ease cash flow problems with the business. The company paid interest on that loan, however, and the debt is now repaid.
Well done for taking steps to safeguard your family home against …
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