Sole Ownership - no protection

Partnership - no protection

Close Corporation - some protection

Pty Ltd - a little more protection

Trust - if done correctly - maximum protection

NOTE: There should never be any doubt whether to marry Out of Community of Property i.e. with Antenuptual Contract (ANC) -and preferable without the accrual system - JUST DO IT!

The worst possible scenario would be if you run your business as Sole Proprietor or in a Partnership AND you are married In Community of Property. If the paw-paw hits the fan then you WILL be wiped out.

Always consult a reliable lawyer and/or registered accountant/accounting officer/auditor with regards the above

Visit Petes Weekly and Business Warriors for more comprehensive information.