weeshar said:
What is the name of your state? california
i was injured on the job 7 years ago and got married three years ago i cannot get medical insurance. my husband owns a business a we are considering divorcing so his business is not in danger in the event i needed medical treatment or hospitalization. is there any other way other than extreme measurse of divorce?
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My response:
Sure. It's called "legal separation." However, and due to the fact that California is a community property State, you'll always retain an ownership share of his business that is calculated from the date of marriage and up to the date of any such "separation." It's that portion that can be "attacked" by a creditor - - which could cause the business to involuntarily shut down to pay your post-separation hospital and other debts.
Remember, in California, there is no legal requirement that you and he live apart. It's only on paper, and you'll still be married under the law - - just neither of you will be financially responsible for the other's post-separation debts from that point on, and all community property interests will cease to accumulate. And, your protections in each other's Estates will cease, and so much more.
See a local attorney for more details and, perhaps, other avenues and strategies to be explored - - such as placing the business in a Family Trust (which would be a separate entity from you and your husband).
IAAL
