QUESTION
Which business entity will provide the best protection from my ex-spouse, LLC or Corporation?
Asked on Feb 13th, 2013 on Divorce - California
More details to this question:
I am recently separated and looking to form a start up company in California. I would like to keep this new business separate from the community assets of my marriage. What is my best option? LLC, S-Corp, or C-Corp?
3 ANSWERS
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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You would be best off divorcing. The definition of community property is anything acquired during marriage through the efforts of one party. Otherwise the issue is a financial issue.
Answered on Feb 20th, 2013 at 8:34 PM
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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Talk to a corporate attorney. There are different reasons for starting different entities. Depends on what you intend to do, etc. Ex spouse can demand and you have to give her copies of documents anyway. Everything should be set up to make discovery easy to comply with as she could come back for ?more child support later and want proof of your income.
Answered on Feb 17th, 2013 at 6:46 PM
Family Law Attorney serving Petaluma, CA
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Law Office of Erin Farley
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The form of entity does not matter. Once separated, your income is separate property. In order to best protect your new business, make sure you use entirely separate property funds to start it.
Answered on Feb 14th, 2013 at 6:40 PM