What Happens to Your Business When Your Marriage Comes to an End?
Every 13 seconds, one couple files for divorce; accounting for 43 percent of marriages that end in divorces annually in the US. Along with the divorces are businesses that lose their ground. While no one gets into marriage and even has kids planning to get divorced, unplanned circumstances result in the inevitable. Despite this being a harrowing time for you, understanding what happens to your business during the divorce is crucial.
Aspects of business that change after a divorce
Your Ex-spouse turns into a business partner
You might not have signed up for this, and you might not be in good terms with each other but, you might end up sharing a business after your divorce is final. However, this determination depends on the state you live in.
Note, however, that the decision to share the business, dissolve it, or the business remaining under your ownership or your spouse’s depends …
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