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Personal assets are things that are owned and accumulated by someone. Personal assets are also things that can help an individual establish their net worth.

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10y ago

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What is difference between personal assets and company assets?

Personal assets is assets that are owned by a person. Company assets are assets that are own by the company.


Can you say expensive watches as assets?

Yes, Expensive watches are personal assets.


What does personalty mean?

It is personal assets that are not fixed to a specific location. Assets fixed to a location assets are realty. Personalty is also known as chattel.


If a small business has a lawsuit or judgment against them can they take your personal assets such your house car and other monthly incomes not associated with the business?

If you operate as a soleproprietor then yes your personal assets can be used to satisfy the judgement. If on the other hand you operate as a corporation or a LLC then your personal assets are protected.


Does a trust protect personal assets?

Yes. However, the assets must be transferred to the trust and will no longer be "personal" assets. They will be under the control of the trustee of the trust. You should discuss your situation with an attorney who specializes in trust law in your state.


What is personal worth?

That would be your assets minus your liabilities.


Can a c corporation file for bankruptcy and the owners protect their personal assets even if they signed personal guarantees with some banks?

No, the owners assets WOULD still be subject to seizure from creditors for all debts that were PERSONALLY guaranteed. The only way to protect personal assets would be for the owners themselves to file personal BK.


How do I get payment on a defaulted personal loan?

foreclose the debtor assets...


What is personal net worth?

That would be your assets minus your liabilities.


What Identifying threats Reducing risk to an acceptable level Protecting a person's personal assets Protecting the organization's assets is not a part of risk management?

Protecting the organization's assets


How can a personal judgement impact the operations and assets of an LLC?

A personal judgment can impact the operations and assets of an LLC by potentially leading to the seizure of the LLC's assets to satisfy the judgment. This can disrupt the business operations, affect financial stability, and even result in the dissolution of the LLC.


How can Provide any additional information an employer should know about you including achievements and personal assets?

Provide any additional information an employer should know about you including achievements, personal assets