With 1 in 2 marriages these days ending in divorce, the distribution of assets becomes a stressful and challenging ordeal. Things get even more complicated if a business is involved.
Whether you’re a majority shareholder, a member of a board or a CEO, there are things you can do in advance to ensure the dissolution of your marriage doesn’t disrupt your earnings or your organization.
What are the impacts?
Divorces are messy. Aside from the custody of children, the financial implications are the most daunting. Even if the dissolution of the marriage is uncontested, there may still be a claim on everything in your name.
There’s one massive reason for this: marital property. Defined as “all income and assets acquired by either spouse during the marriage,” it includes money in a savings account, stocks and bonds, and other assets.
Community property or equitable distribution
How much is actually at