If I’m buying a business and am including my niece as my partner, since she’s going to be getting a divorce, will my business be protected from her spouse if we are a corporation?
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If I’m buying a business and am including my niece as my partner, since she’s going to be getting a divorce, will my business be protected from her spouse if we are a corporation?
Asked on March 18, 2013 under Business Law, North Dakota
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Corporate status only protects from creditors-- not spouses. If the asset is acquired during the marriage, her husband could make a claim for a share of the asset. To make sure that he cannot claim any portion of the business, either purchase the business in your name and then transfer partial ownership to her after the divorce, OR wait until after her divorce is final to purchase the business.
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