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2 things to consider about divorce and your business

When it comes to divorces that involve businesses in Minnetonka, one can never be too thorough. You do not need to stay with your spouse in order to protect your business from the fallout of divorce, even if she is a partner. Though you should have taken measures to shield your business from separation before your marriage, all is not lost. 

Why divorces often spike after the New Year

The holiday season can prove stressful for everyone, thanks to tight schedules, tight budgets and familial obligations. If you are like many people in marriages across America, you may, too, find that you become particularly disenchanted with your significant other after the holidays pass. Maybe you disagree with your partner’s spending habits, maybe you’re tired of seeing your in-laws or perhaps you simply feel the spark has gone out.

3 ways to divorce-proof your business

If you are in the formation stages of starting a business or have been in charge of one in Minnetonka for a long time, it helps if you take measures to protect it. Believe it or not, your relationship can affect your company if things end badly between you and your spouse. Divorce is one situation that can cost you your business if you are not careful. 

What can I expect in a divorce?

One life event that you likely did not see coming is a divorce. You married your spouse with the intent to separate when you die. But at some point in your lives, you both changed, and the feelings you once had for each other are no more. 

3 assets that may be most vulnerable in a divorce

There are a number of concerns that arise for any couple going through a divorce. If you have kids, you will be understandably concerned about custody arrangements. If you have a business, you want to make sure that it does not suffer as a result of the end of your marriage. The latter of these is one of the most common property division issues that face high-asset divorcees.

Make your business a success and secure your future

When you start a small business you have a lot of important details to consider. According to a LinkedIn report, there is nearly a 1 in 2 chance that a start-up will go out of business within five years. Your business will be your livelihood. That number can be nerve wracking. You want your business to be successful. The goal is to secure your future. You want to be a successful owner and boss.

Will my prenup hold up in court? 6 questions to ask.

Determining whether or not your prenuptial agreement will stand up in court is not complicated if you take time in advance to make sure it follows some important guidelines. The first, and most important, thing to remember is that the agreement needs to be in writing and it needs to be notarized. In addition to this major requirement, the courts will need to determine the following facts.

Can I protect my business from my spouse?

Horror stories abound of individuals who have spent years building up a profitable business losing it all during a divorce. Courts look at a lot of things when deciding how to divide property, and even though you may have owned your business before you got married, you may face having to divide it along with your other assets.

For effective representation on a wide range of legal issues, turn to Hajek & Beauclaire LLC, for representation that always puts your interests first.

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