How do you keep your business in a divorce? This is my job and income. She has a separate career.

Gushing39 · 2020-08-17T02:31:53+00:00

Look up the terms personal good will and business good will.

justme4068 · 2020-08-17T03:05:08+00:00

Is your business LLC? If it’s a separate business you may be protected. If not, you’ll have to get the business appraised and come to a price that would be split. Half of her 401k is also yours. Maybe,you can make a deal she keeps hers, you keep yours?

It really depends on where you live, state and country.

adl3026 · 2020-08-17T02:39:17+00:00

It depends on the state and if you had the business prior to the marriage and if she ever participated in the business in any way

used2befast · 2020-08-17T20:33:09+00:00

I'm going through the same thing with multiple commercial rental properties along with a business. I'm going to have to cut her a check for half the equity in it. Probably sell a property or refi.

Only thing you can possibly do is strip the equity from the properties from refi'ing or taking on partner in a LLP and being the minority share holding partner.

IANAL so please speak with legal council.

Title	How do you keep your business in a divorce? This is my job and income. She has a separate career.
Author	[deleted]
Upvotes	12
Comments	12
Date	August 17, 2020 2:21 AM UTC (5 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/ib5m3c/how_do_you_keep_your_business_in_a_divorce_this/
Archive Link	https://theredarchive.com/r/Divorce_Men/how-do-you-keep-your-business-in-a-divorce-this-is.1195870 https://theredarchive.com/post/1195870

Comments