Starting new business: how to protect it in divorce?

[Helen44]

What is the name of your state? KY

I'm starting an online company and want to protect the profits/assets in the event of divorce, and from spouse's bitter ex & child support. Spouse will not have any involvement in the company whatsoever.

Will I need to have him sign an agreement relinquishing all rights to it or does leaving him off of the articles of incorporation do that?

Thank you!What is the name of your state?

 

[divgradcurl]

What is the name of your state? KY

I'm starting an online company and want to protect the profits/assets in the event of divorce, and from spouse's bitter ex & child support. Spouse will not have any involvement in the company whatsoever.

Will I need to have him sign an agreement relinquishing all rights to it or does leaving him off of the articles of incorporation do that?

Thank you!What is the name of your state?

Talk to a local attorney who specializes in business and contract law, who can review all of the specific facts of your particular situation and advise you accordingly.

 

[clueless3]

If you earn a profit in your Corp while you're married, it's very hard to protect it from a current [and/or soon-to-be ex-] spouse.

The best way to protect it was over: you should have got a pre-nup or form that Corp before you got married (still, the ex can still claim that all profits while you were married may be shared).

The spouse might not have any involvement in your Corp, but still, community is community. (My wife has nothing to do with my current job, but she still entitles to half of its earnings!)

Transferring the assets to a secret bank account (off- or onshore) will not protect it in the event of a court order. It's called fraud.

An agreement relinguishing all rights to profits from your Corp is highly contestable. You should have the agreement before you got married, not after.