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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am prepared to claim the value of my corp, as $500 in shares,

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I am prepared to claim the value of my corp, as $500 in shares, bank acount balance and tangible equipment (exercise equipment:ie, weights, thera bands, 2 restorator bikes, portable e-stim unit, fax and paper) which would total no more then 1K on any given day. I run it out of my home. How would the Trustee challenge it?
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

The trustee will typically review the corporate tax returns and books and records. You previously mentioned that the equipment is listed at a much higher amount on your tax returns. The trustee will also inquire as to whether the corporation has any contracts that may be of value.
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