W
wary one
Guest
What is the name of your state? NY
I have formed an S-Corp, am currently the only shareholder. I am considering divorce. Since much of the inventory for which I formed the corp. had been purchased during this marriage, I understand that it will be "equitably divided". However, this business was formed to protect these very assets. My husband has a sole proprietorship in a highly regulated field. His backers refuse to allow him to incorporate, thus they and other creditors can take everything. He has flouted law and regulation, and I am terrified that it will catch up to us.
If I made my daughter the sole shareholder of the corp., then file for divorce, will she end up holding sharesfor a business for which there is no longer inventory?
I have formed an S-Corp, am currently the only shareholder. I am considering divorce. Since much of the inventory for which I formed the corp. had been purchased during this marriage, I understand that it will be "equitably divided". However, this business was formed to protect these very assets. My husband has a sole proprietorship in a highly regulated field. His backers refuse to allow him to incorporate, thus they and other creditors can take everything. He has flouted law and regulation, and I am terrified that it will catch up to us.
If I made my daughter the sole shareholder of the corp., then file for divorce, will she end up holding sharesfor a business for which there is no longer inventory?