What Are the Risks to My Business in the Event of a Divorce?

A Video FAQ with Joshua A. Diveley.

The risk to your business in the event of a divorce will depend on what state laws apply and what those laws say. For example, in Nebraska, Nebraska is an equitable distribution state, meaning that the assets acquired during marriage will be equitably distributed among the 2 individuals. If you did not have a prenuptial agreement when you came into the marriage and you acquired that property, it is subject to being split up just like any other asset. In addition, the internal agreements between you and other owners may say that upon the event of divorce, the other parties may have an option to buy you out to help keep the business out of being involved in that divorce, so another consideration is what the internal documents say among the owners.

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