When a marriage comes to an end, it is not just the couples that go their separate ways. There is also a division of assets and liabilities, and even child custody and alimony issues to deal with. If you own a business, there’s the question of what happens to the investment.
If you are a business person who is on the verge of a divorce, you are probably wondering how you will protect your business from the potential division. After all, your business is an asset or investment and might be subject to division under the equitable distribution act. But if it’s any consolation, it is possible to protect your business during a divorce. The court classifies the property as either separate or marital; if your business falls under the separate category, you won’t have to divide it. Read More