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S Corporation and Divorce

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N

nellienel

Junior Member
What is the name of your state? PA
My wife and I have formed an S Corporation and are running a business. If we were to get a divorce, can I buy her shares of the S Corporation and assume all debt within the S corporation before the divorce is final?
 


D

divgradcurl

Senior Member
nellienel said:
What is the name of your state? PA
My wife and I have formed an S Corporation and are running a business. If we were to get a divorce, can I buy her shares of the S Corporation and assume all debt within the S corporation before the divorce is final?
Click to expand...
Sure, unless the debt is personally guaranteed by your wife, in which case you'll need permission from the creditors to take over your wife's debt.
 
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