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Divorce often brings significant changes to a couple's financial and business arrangements. When a married couple owns a business together in New York, deciding what to do with the business after divorce can be complex. Some couples may choose to continue sharing the...
When going through a divorce, state law demands that all community property get divided in a way that is equitable for both parties. This also applies to businesses, which are unfortunately and notoriously hard to divide due to the many complexities surrounding them....
In an equitable distribution state such as New York, the law requires a division of your property in a way that is fair to both you and your spouse when you divorce. Unfortunately, some assets are not easy to divide. A business that you and your spouse own together...
If you own and operate a business with your soon-to-be ex-spouse, you may need to consider how a divorce could affect it. As noted by the Internal Revenue Service, a sole proprietorship may continue operating after a divorce, but it must have only one owner. An...
As someone who owns part of a business, a divorce poses a potential problem for your company. Because your business shares count as assets, your spouse may have a claim to some of them in a divorce settlement. This could endanger your business or at least saddle it...
Your dream of running your own business could be in serious jeopardy if your spouse asks for a divorce. If your spouse has a large enough entitlement to the value of your business, you may have to sell your enterprise to give your spouse his or her share. However, if...
Business owners in New York City might want to learn more about how a divorce can affect their company. If you are going through a divorce or think that there might be one in the future, protecting your business might be a priority. There are things that you can do...
When you have a business you own and are preparing for divorce in New York, you may be afraid that you'll lose your business to your spouse. Fortunately, there are steps you can take to protect your business. Start by forming an LLC, trust, or corporation, which you...
Undergoing a divorce is a time-consuming process that comes with many different questions. Most of these questions revolve around New York laws that determine how assets will be divided between you and your spouse. If you own a business, understanding how your divorce...
In New York, it can be complicated to attempt to sell a business that is owned by a couple going through a divorce. The other person is still entitled to their share of the business, even if one of the spouses managed and owned it. The individual selling the business...