How Self-Employed Can Protect Their Possessions from a Divorce
It is straightforward for a business person to lose all the assets when a divorce occurs if not prepared. Therefore make sure that you can be able to retain that business even after you have filed for a divorce. Even if your marriage at this point is doing very well, you also need to prepare because no one knows what the future holds. It will not be possible for your spouse to have a share of your business if they don’t have any share if you have something to protect it. Here are some guides that will help you retain your business even after filing for divorce.
It is good to have a contact with your spouse that shows that your marriage and your business are not related in any way. The contract should involve all your possessions that are related to your marriage and those that don’t relate. When you have such kind of agreement, there is no way your assets can go down with your divorce. What you will do is to present that agreement in court if your spouse wants to share the whole of your business.
You need to make sure that you are working with a good team. Such people that you need are lawyers for both your divorce and your company and also an accountant for your business. The work of a business attorney is to make sure that your business will not be affected by your divorce. The marriage attorney will ensure that everything that should take place during your divorce is followed and you are not treated the wrong way. You need a good accountant so that he can calculate all your properties and let you know how much your net worth is. In that way it will be hard for you to lose your assets at anyway.
You also need to keep your marriage and business separate. It is not a suitable thing to be helping each other with business operations with your spouse. It will be easier for your spouse to claim some part of your business during a divorce if he or she have been taking a big part in your business activities. Therefore make sure that there is no way your partner is taking part in building up your business. You can easily lose all your property and business if you have been doing the business together with your wife or your husband. If you don’t want to lose your business over a divorce then make sure that your spouse is not part of your business at all.
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