Kathy Cox
This is sad. I don’t watch TV, but I saw this woman win “Are You Smarter Than a Fifth Grader.” She generously fought for the money so that she could donate it to kids, and she was the first ever to win the show. Now, because of the housing crisis and her husband’s home-building business, she has had to declare bankruptcy. I’m not sure why she’s not protected from her husband’s business (I think an LLC structure would protect her from the fluctuations of his business), but it’s sad that it’s happening to someone so generous.
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But here is an...
I agree with everything you said. About #1…I think...
So here is the answer to the last sentence. She’s protected from the business, but she’s a co-signer on the business loans. It’s also possible that she may not legally be able to give that money away to the schools.