Who gets the business?

[CoachHoff]

What is the name of your state?Colorado
I am getting divorced, the papers have not yet been filed. I would like to buy a small business ASAP, but I'm afraid that if I do it before our divorce, my spouse will be able to claim half of the business. I can't wait too long or the business will be sold to someone else.
Thanks for any help I get!!!

 

[BelizeBreeze]

Put your wallet back in your pants... It's way too early and you're only going to screw yourself.

Definition of Marital Property.
"Marital property" means all property acquired by either spouse subsequent to the marriage except:

1. Property acquired by gift, bequest, devise, or descent;

2. Property acquired in exchange for property acquired prior to the marriage or in exchange for property acquired by gift, bequest, devise, or descent;

3. Property acquired by a spouse after a decree of legal separation; and

4. Property excluded by valid agreement of the parties.

All property acquired by either spouse subsequent to the marriage and prior to a decree of legal separation is presumed to be marital property, regardless of whether title is held individually or jointly by the spouses. This is overcome by a showing that the property was acquired by a method listed above.

Although Colorado is a separate property state, that only applies to property brought into the marriage and not altered in any way, or property acquired after the marriage as above.