My husband and I are getting a divorce, but we own a business together. It’s really his, I have not done much in it, and we have debt that I do not want to be responsible for. When can I transfer it to him?
If you and your husband agree that he should retain the business, then you can likely draft an agreement pertaining to such to have him file with the State. This can be done during the pendency of your divorce. However, if the business itself, or the debt attached to such, is in question, you may need to wait until the divorce is finalized so that you and he are both in agreement about how it should be handled (or possibly, dissolved).
Wolf & Shore Law Group is here to help you address your family-owned business concerns in your divorce and are here to make your family law matters easier, not harder. Ever argue with a woman? Let Wolf & Shore Law Group go to work for you. Call us at 203.745.3151 or email us at firstname.lastname@example.org.
Very Truly Yours,
Wolf & Shore Law Group
*The situations represented in our Dear Attorneys column are entirely fictional and any resemblance to a specific case is unintentional. We cannot, and will not, offer legal advice to anyone who is not a client. However, if you do have questions or concerns, you should contact an attorney at your convenience.