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How do you protect your created business in a divorce?

| Oct 8, 2018 | Divorce |

Jeff Landers regularly contributes family law articles to Forbes that tilt toward the perspective of divorcing women. His pieces frequently spotlight dissolution-linked issues relevant to financial matters in high-asset decouplings.

Landers’ recent focus on safeguarding business interests in a divorce is no exception. It examines the subject from the standpoint of divorcing women who have created profitable and enduring commercial entities and understandably want to safeguard them in a marital split.

That’s understandable, right? Any individual (female or male; Landers stresses in many of his articles that their topical focus applies to both women and men, respectively) who has expended creative smarts and sweat equity over time to bring a business to life should have a powerful say concerning its handling in a divorce.

Landers quickly underscores one central point in his recent Forbes piece, namely, that business growth during a marriage can be judicially deemed marital property and subject to an equitable split between divorcing spouses. He stresses that such an outcome can attach – indeed, routinely does result in divorce cases across the country – “[regardless of] whose name is on the business or who put in the blood, sweat and tears to make it a success.”

That potential understandably leads many reflective soon-to-be exes to proven family law attorneys well-versed in property distribution matters to discuss ways to divorce-proof a business.

Ideally, that focus was apparent even before marriage, when an experienced lawyer could optimally help a client negotiate and draft a protective prenuptial agreement. Conversely, it is often possible to obtain equally strong protections via the drafting of a so-called postnuptial contract executed following marriage.

Generally, a sooner-rather-than-later approach is preferable when it comes to attorney consultation concerning marital property and asset distribution. A seasoned family law lawyer can provide further information.