How to keep a business from being deemed marital property?

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How to keep a business from being deemed marital property?

My sister has an established LLC running out of her home. She plans to go into business with another person and make them a joint member while she also plans to bring her business to the public from a leased space. She wants to exclude her husband from having any ownership interest in the company or operations. Can that be done and what is the best way to accomplish it?

Asked on April 10, 2012 under Family Law, Ohio

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If your sister starts a business during her marriage then it is considered a marital asset unless her husband signs a post nuptial agreement that states that he waives any interest in the business.  Otherwise, it will indeed be appraised a a marital asset during a divorce.


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