Business Start Up

[aladso]

What is the name of your state (only U.S. law)? SC & NC
I'm thinking of starting a business. And I have everything all planned out how I want everything to go except one thing. I'm going through a divorce right now. I should say I'm doing pretty good considering he left me with nothing. Being that I'm starting a business is he entitled to anything concerning it cause we are still married. Only I live in SC and he is in NC. We've been separted for over year and don't have any communication other then when he gets the urge to call and cause confusion and chaos. My biggest worry is that he is entitled to part of my business that I worked for. He didn't contribute NOTHING to it. I don't want to have to give him anything.

[LdiJ]

Originally Posted by aladso

What is the name of your state (only U.S. law)? SC & NC
I'm thinking of starting a business. And I have everything all planned out how I want everything to go except one thing. I'm going through a divorce right now. I should say I'm doing pretty good considering he left me with nothing. Being that I'm starting a business is he entitled to anything concerning it cause we are still married. Only I live in SC and he is in NC. We've been separted for over year and don't have any communication other then when he gets the urge to call and cause confusion and chaos. My biggest worry is that he is entitled to part of my business that I worked for. He didn't contribute NOTHING to it. I don't want to have to give him anything.

Why don't you go ahead and get a divorce? Then you won't have to worry about it.

[aladso]

Cause the state of SC has some law about we have to go into meditiation and custody thing. I told my lawyer that I don't want anything from him not even child support so I could speed up the whole dovorce process. But to make life a living hell he is contesting the custody.

[LdiJ]

Originally Posted by aladso

Cause the state of SC has some law about we have to go into meditiation and custody thing. I told my lawyer that I don't want anything from him not even child support so I could speed up the whole dovorce process. But to make life a living hell he is contesting the custody.

So you have already filed for divorce? If you have already filed, you should also be ok with your new business.

[mistoffolees]

Originally Posted by aladso

What is the name of your state (only U.S. law)? SC & NC
I'm thinking of starting a business. And I have everything all planned out how I want everything to go except one thing. I'm going through a divorce right now. I should say I'm doing pretty good considering he left me with nothing. Being that I'm starting a business is he entitled to anything concerning it cause we are still married. Only I live in SC and he is in NC. We've been separted for over year and don't have any communication other then when he gets the urge to call and cause confusion and chaos. My biggest worry is that he is entitled to part of my business that I worked for. He didn't contribute NOTHING to it. I don't want to have to give him anything.

Once you've filed for divorce, your finances are your own to do with as you please. However, if you use marital assets to start up the business, it could create some issues. The problems can be resolved, but it could be messy.

Let's say you need $5 K to start a business and you have $20 K in savings. Have your attorney draft a letter saying that you both agree to withdraw $5 K from the savings account for your own personal use and neither of you will have any claim on what you spend that $5 K on. Properly drafted, that should protect you.

Or, if you have any money from an inheritance. Or your own income (as long as you never put it into a marital account). Or borrow it from family or whatever. Just try not to use marital funds.