Will a personal bankruptcy affect my non-profit ministry? 7 Answers as of October 20, 2014

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
No, as long as the books are clean.
Answer Applies to: California
Replied: 10/20/2014
Barnhart Law Office
Barnhart Law Office | Bruce C Barnhart
Possibly, it depends on how the ministry is organized and if there have been recent transfers into the ministry.
Answer Applies to: Nebraska
Replied: 10/17/2014
Ronald K. Nims LLC | Ronald K. Nims
If you filed the paperwork to establish a tax exempt entity, then there is no owner - tax exempts are considered to be owned by the public. If you didn't file the paperwork, then it's simply property that you own.
Answer Applies to: Ohio
Replied: 10/17/2014
GARCIA & GONZALES, P.C. | Richard N. Gonzales
No, unless the entity has assets.
Answer Applies to: Colorado
Replied: 10/16/2014
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
If you are a shareholder and if the not for profit has assets, then yes, the trustee can pursue those assets.
Answer Applies to: New York
Replied: 10/16/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    More details would be necessary to provide you with a meaningful answer. What is the relationship between the nonprofit & the debtor? What is the value of the assets in the nonprofit? What is the formal organizational structure of the nonprofit? Did the debtor co-sign for any debts made by the nonprofit. The volunteer attorneys on this site don't just pull legal advice out of their hat ? legal advice is based on interpreting the law as it applies to the facts.
    Answer Applies to: Nevada
    Replied: 10/16/2014
    Steele, George, Schofield & Ramos, LLP
    Steele, George, Schofield & Ramos, LLP | Alan E. Ramos
    It shouldn't. However, the details matter. You should see an attorney to review all of your circumstances.
    Answer Applies to: California
    Replied: 10/16/2014
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