Will she be entitled to my business?

[mistoffolees]

>Okay, what happens if they get a divorce?  The business was
>started during the marriage, he quit his job to help get the
>business established.  Just how is the start up funded?  

As I said, how the start up was funded is part of the issue in how it can be protected.

As for the divorce, that depends on how it is set up. It is quite possible to set things up in such a way that income or property is a non-marital asset.

>
>Any decent lawyer would be able to make a very good case that
>it is a marital asset since it was formed after they were
>married and not  before.  Now, if she were to start the
>business and he didn't quit his job and help her with the
>business, they may be able to get away with it.  But that
>isn't the plan.  

There are lots of 'ifs'. That's why your advice that it's always a marital asset was wrong. It depends.

[gabes_mom]

Thank you all very much!

The company has been set up as an LLC, I don't know if that makes any difference, but as owner and president I will be cutting pay checks to both myself and my husband.

Nothing will run thru our personal acct except for our pay checks. There will be a separate business acct to begin with and possibly will have to have multiple accts to carry this business thru because of the type it is.

Would it be best for me to obtain a separate checking acct from my husband to deposit my checks in?

I will indeed consult an attorney about this thank you! I also like the idea of a employee contract made for DH stating he is only and employee and has no say in how the business is run.

I also understand why it would be a concern if we ever divorce but honestly the way we live our lives isn't in the "What If we get divorced" mindset. That may seem naive to most of you but that is how we chose to live our lives. I believe that God will guide me if this ever happens to what the best course of action to take will be.

[mistoffolees]

>Would it be best for me to obtain a separate checking acct
>from my husband to deposit my checks in?
>

Just in general, the best approach seems to be that you each have your own checking and/or savings accounts that THE OTHER PERSON DOES NOT HAVE ACCESS TO and then a joint account.

Whether that will be sufficient to protect you is something an attorney in your area can tell you.

[gabes_mom]

I will definitely consult a lawyer, thanks!