Personal investments you Keep after Bankruptcy

You should talk to your financial adviser about arranging your retirement or other investment funds to try to put them beyond the reach of debtors in the event of your franchise going bankrupt.

  • Some investments survive a bankruptcy (ie. you get to keep them even if/when you hit the wall) and others do not. God is in the details on this one kids. This is a very jurisdiction-specific comment.

I know you plan to be the next billionaire franchisee but you should get solid legal advice (from a bankruptcy attorney because I am not a lawyer) where you live before you sign anything.

This is a good idea to look into this if you’re already a franchisee, too.

This goes for your partner, as well. Most franchise relationships try really hard to have your spouse co-sign. [They may be after your net worth too. Do not, soft-headedly, loan hubby more of what the industry calls: love money.]

Three rules about a spouse signing any franchise document [agreement, bank debt, etc.]:

  1. Don’t do it, ladies,
  2. Don’t do it, ladies, and
  3. Don’t do it, ladies.
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