2. Is Your Small Business Separate or Community Property?
3. 3 Ways to Protect Business Assets in Divorce
It’s not just the small business itself that you need to worry about during a divorce. Keeping all the businesses assets (and debts) separate from your individual property is key to keeping a small biz up and running, even if your marriage is crashing and burning.
4. How to Make Your Small Business Divorce Proof
Prenups, postnups, and other marital property agreements can carve the small business out of potential divorce proceedings. And forming your business as corporation or LLC – especially before a marriage – means that a separate legal entity can own company assets. It also does help to be on friendly (or as friendly as possible) terms with your soon-to-be ex.
5. Divorced Business Partners? How to Make It Work
What if your small biz was formed as a partnership with your spouse, and you’re not spouses anymore? Mutual respect, business and emotional counseling, and some clear partnership agreements can actually make a post-divorce business partnership work.
If you’re wondering how your small biz will stay open during a divorce, talk to an experienced commercial attorney today.
Related Resources:
- Find Business and Commercial Lawyers Near You (FindLaw’s Lawyer Directory)
- Family Businesses: 3 Legal Safeguards (FindLaw’s Free Enterprise)
- Do You Have a Family Business Succession Plan? (FindLaw’s Free Enterprise)
- Want to Protect Your Business in a Divorce? Be Batman (FindLaw’s Free Enterprise)
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