Solely Owned LLC Business and Divorce

[Moonlounger]

Not sure if this is the right forum, but I can't seem to get a straight answer where ever I ask this question (without paying a bundle for it).

I've asked this on a couple "ask a lawyer" websites, even posing as a woman business owner to remove any potential cognitive bias from the lawyer's answers, but no one has taken the bate.

When asking non-lawyer friends in person, I've gotten responses from "why are you planning for failure, if you focus on divorce, that's what you'll get" to "you're trying to scam women!"

The question: "Is it possible to keep a prenuptual LLC as separate property in the event of a divorce?"

Background information: "I'm currently single, but suppose I create an LLC before getting married to manage my intellectual property, and make investments with the revenue the IP generates. The LLC has a separate address, separate bank and investment accounts, files taxes separately, and I would never take a salary or any other type of payment with company funds, nor use any company assets outside of official business. Instead, my salary from a regular job would contribute to any martial accounts and expenses. In this case, would any revenue or the appreciation of the LLC during marriage count as marital property? Is there a better way to structure things in the case of a future divorce? Thanks in advance."

Realistically, I should pony up the money and get real legal advice, but thought I'd see what you guys thought given the general level of experience in this forum.

 

[Bible_Belt]

I have a law degree, but never took the bar exam. If any practicing family law attorneys want to chime in to correct me, I welcome the input.

What you are talking about is possible, but it's all about the pre-nup. The business interest must be set aside in the pre-nup, and for the duration of your marriage, your wife must have no access or control whatsoever in regard to the business and its money.

The trickiest part is that the prenup must hold up in divorce court. A good contract can be broken by a great lawyer. You'll need to study everything your state looks for in a valid prenup, and make yours great. Get your wife-to-be her own independent attorney. If you are the breadwinner, write into the prenup that she gets a year or two of alimony in the event of divorce. You want a contract that looks fair to both sides when the judge looks at it. Otherwise, your prenup will be thrown out, and she will get half of everything.

 

[sodbuster]

Depends on your state laws....Just go to the best Divorce attorney in town to have him draw it up..... she can't use him to break it.....

 

[Moonlounger]

Thanks for the feedback guys, looks like a prenup is the way to go rather than messing around with separate LLCs as there's no real case law history attempting that and it would be a royal pain.

Quick story comes to mind, the son of a friend of my dad graduated from a top 10 law school, was making big bucks and wanted to get a prenup before marrying his girlfriend of 3 years. She refused to sign on the grounds it destroyed the magic of marriage, poor guy had no choice but to dump her :yes:

 

[Zarky]

poor guy had no choice but to dump her :yes:

At least he did that and didn't cave in like a wimp and then get buttraped 10 years later.

Second post I've read where a guy did something bold and strong. Feeling good! :rockon:

 

[taiyuu_otoko]

This post reminds me of two stories:

1) That scene in Seinfeld where George was getting married and asked his girl about a prenup. She just laughed and said, "But you don't have anything!"

2) Was a case several years ago about a guy who won the Nobel Prize, but had to cough up half the cash to his ex-wife, whom he divorced like ten years earlier. She knew he was smart and knew there was a chance of him getting the Nobel prize, so she put in their divorce that if he ever won, she got half. Long is the con of the shrewd female.