Despite the fact that the majority of people do not prepare for divorce, the preservation of assets before marriage may be advantageous for both couples given the rising divorce rate. Without protection, already challenging divorces could get even more challenging, particularly when it comes to dividing the marital estate. If you and your spouse jointly hold an LLC, a judge might divide the company equally in the event of a divorce.

Protecting yourself is crucial whether starting a business with a spouse, member of your family, or close friend. Depending on the circumstance, there are several ways you can protect yourself.

Operating agreements that describe the purchasing, selling, and trading of company shares can be drafted by Miami FL divorce attorneys. It is crucial to consider who will own what stake in the company and what functions those parties will have when establishing your corporate documents. Different clauses should be included in operating agreements to safeguard the rights of the other owners in the event of a divorce. For instance, a clause might stipulate that a shareholder who is single gets a prenuptial agreement from any spouses before marriage.

For the aim of protecting your assets, you should also open and maintain a separate corporate bank account.

In the event of a divorce, a prenuptial or post-nuptial agreement may help safeguard ownership of the business. These agreements are enforceable in court. To draft and examine any pre or post-nuptial agreements, you should speak with an experienced attorney.

To learn more about Rafool, PLLC, including our team of Miami family law attorneys, visit us online or call 305.567.9400.