Clifton Legal Issues Blog

Can you protect your business from divorce?

When you are a business owner, divorce can prove absolutely devastating. Depending on the protections you set up to keep your business separate from your marital property, you may lose the business entirely in the property division portion of the divorce process.

Depending on where you are in the life of the business and the marriage, you may have many different protections available. In some cases, you may even have more options than you might expect. These may range from pre- and post-nuptial agreements to leveraging other assets to keep the business intact throughout the divorce.

A prenuptial agreement offers protection, not a backup plan

The term “prenuptial agreement” doesn’t get many people excited. In planning for a wedding, thinking about the “what if” is borderline taboo. But, like most of life’s more important decisions, a proactive approach can simplify matters later and protect important property.

In a New Jersey divorce, marital property is divided in a “fair and reasonable” way. This may or may not mean equal 50/50 value, depending on circumstances. Discussions during the divorce settlement will determine who gets what — which is often a contentious process.

Divorce and the division of property in New Jersey

For most couples, marriage involves a lengthy process of creating a life together. While this process is often focused more on the future, it includes each person’s past as well. Once a couple decides to dissolve their union, separating their lives becomes an emotional and legal challenge.

When a New Jersey couple chooses to get divorced, they will have to alter nearly every aspect of their lives. One of the largest factors in this process is dividing their property. While the process of property division can seem intimidating and confusing, knowing some basic information about property division can make things easier.


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