Shielding Your Business During Divorce: Succession Planning for Entrepreneurs
When a married couple makes it big in business, it also makes for big numbers if the pair decide to divorce. Las Vegas casino magnates Steve and Elaine Wynn, who were married and divorced twice, settled by dividing Steve Wynn’s shares in Wynn Resorts Ltd. worth $741 million, so each
Dissolving the Partnership: Legal Aspects of Divorce for Business Owners
When Bill and Melinda Gates announced their separation in 2021, many speculated about what would happen to the Bill and Melinda Gates Foundation - a philanthropic organization started by the couple worth billions of dollars. The Gateses surprised the public by pledging to continue running the organization together, with Melinda
What is a Business Divorce?
Business divorce, like traditional divorce, is the legal process of severing a relationship. The legal proceedings involved in a business divorce can endure similar stress to a marriage divorce. Generally, all owners or partners should agree that business divorce is the best option for their company. Knowing the time and
Is My Spouse Entitled to Half of My Orange County Business?
The American Psychological Association reports that 40 to 50 percent of marriages in the United States end in divorce. Pursuing a divorce is never easy due to the emotions involved and the complex process of dividing assets. If you own an Orange County business, determining if your spouse is entitled
Protecting a business from divorce is a touchy subject
On behalf of Pedrick Law Group, APC posted in divorce & family business on Tuesday, April 2, 2019. People with a lot of assets in their name may not think of a prenuptial agreement or other protections in the case of divorce. But business owners almost always think of what could