Separating Home and Business

[LindenStDaycare]

Is there a way to legally separate your home/property from your in-home daycare business? I worry that if I were to ever be sued, my home/vehicles/etc. could be taken.

I’m in NY state. I’m not required to file a DBA/LLC/etc. but if that helps then I would.

Thanks for any input!

[Michael]

I’ve had close to a dozen LLC or S-corps. They are a level of protection from your personal assets. Consult you accountant or financial planner to find out which suits your needs. When you commingle personal with business espenses and liabilities, it can make things difficult if a client wants to bring a civil suit against you. The more distinct the separation, the better the protection. Here are some LLC threads that may be of help to you. https://www.daycare.com/forum/tags.php?tag=llc

[Daycare Insurance]

The best thing you can do is get a commercial and professional liability policy. This will cover you in the event that you're sued by a client, which will help protect your assets.

[ellisacoy]

Gratitude

Thank you very much for this thread. It has been extremely useful.

[rosieteddy]

Look into something called The Homestead Act.You can file papers to protect your home.Also the liability policy.