> Does that work for individuals? It does. You can't spin off your liabilities, but you can get rid of all your assets, then declare bankruptcy and get rid of

> Does that work for individuals? It does. You can't spin off your liabilities, but you can get rid of all your assets, then declare bankruptcy and get rid of your liabilities. A contractor did that to me: He gave all his money to his wife, declared bankruptcy, I got none of the money he owed me, and he lived off of his wife's money. You can, for example, place your house in an irrevocable charitable trust, with a rule that you can live there rent free till you die. Things like that - you need to get creative, but you can move all your assets to places that are not "yours" but that you still benefit from. Google "Transferring Property Before Filing for Bankruptcy" - it's important to get the timing right, if your transfer the property too close to the bankruptcy they can take it back.