Absolutely - ALL your property (all your assets) AND all your liabilities are included...always..you do not pick and chose. They are given different priorities, some debts may not be discharged (like child support), and some assets (like household goods, work tools), may not be used. But the personal property like a boat or car...or the Van Gogh on the wall...are fair game.
If your business is tied to your personal credit, then yes, you run the risk of being personally affected by the business's bankruptcy.
If the pastor files for personal bankruptcy, no - the church fund can't be touched. If he files bankruptcy ON BEHALF of the church, then any and all funds and assets of the church can be affected.
yes, but if you are, than RUN!
If by "property limit" it is meant what personal and real property can be exempted from bankruptcy, that is determined by the type of bankruptcy you must file, federal or state. To discover what the type and amount of property one is allowed to exempt you can search federal bankruptcy exemptions or (name of state) bankruptcy exemptions; in a few states the person can choose to use either set of exemptions or a combination thereof.
The answer to this really depends on the nature of the property and how it is held (i.e. tenants in common, joint tenancy). You can file for bankruptcy for your personal debts. If the ownership debt is easily severable then it is likely that you would be able to file for bankruptcy and include the property as well.
no
If you mean exemptions of personal property, as opposed to real estate, yes, but they depend on state exemptions or federal exemptions in states that allow a choice of state or federal exemptions. Consult a local bankruptcy lawyer for specifics for your state.
In a Proprietorship, the personal bankruptcy of the proprietor may cause shut down of business. Whereas in Partnership and Joint Stock Companies, bankruptcy of Partners, Directors effects business credit immensely as bankers become shy in extending further credits to the company.
In a chapter 7, no post petition income constitutes property of the bankruptcy estate. So to answer, no. In a chapter 13 or 11, all post petition income constitutes property of the estate.
IRA's are exempted personal property. Creditors can not touch this money to pay debths.
All states have a set of exemptions that can be used by the debtor to protect specific types and amounts of real and personal property in a bankruptcy or lawsuit action. Creditors rarely use a lawsuit judgment to seize personal property such as household goods exempt or not, the process is just not worth the effort. The exception is if the property is collateral for the debt, for example a big screen TV bought on a merchant account such as Sears. In bankruptcy the decision is made by how the trustee chooses to determine the status of such property under the state and/or federal exemptions.
It depends. Depending on the interest of the Trustee in Bankruptcy, and whether or not they have abandoned the property, will determine whether or not the debtor in Bankruptcy will be permitted to take the property if the creditor has abandoned the property. Bottom line is that it depends on the facts, contact your Bankruptcy attorney or a reputable Bankruptcy attorney to get more information.