How To Protect Your Business From Divorce – In this episode of the Modern Divorce Podcast, Billy Tarascchio and Paul Delugeri focus on how to protect your assets during a divorce. Regardless of whether these assets were acquired before or during the divorce, different processes and procedures are required to secure them in the way you see fit. Watch the video below or read the text and timestamps to choose your favorite video to start the video with.

Hi, this is Billy Tarascchio with the Modern Law and Modern Divorce podcast. I’m here today with Paul Deluger, a fellow attorney here in Arizona. It is very nice to communicate with you. How are you today, Pavle?

How To Protect Your Business From Divorce

It’s funny because we’re going to talk about protecting money. And Paul is an estate planning and wealth protection attorney. And as a divorce lawyer, you know that there is no faster way to reduce your assets, get divorced and lose half of it. Paul is now going to tell us how we cannot lose a side even if there is no marriage contract.

Section 1041: Protecting Your Business Assets In A Divorce

Properly. So yeah, thanks for standing. And one of the things, one of the things, I’ve met a lot of people who really don’t like signing prenuptial agreements. And I don’t know, I think I saw a statistic recently that said 17% of people sign marriage when asked. Oops. However, yes, there are real ways to organize things in advance, and it’s best to do it earlier, like before the wedding. So what, why, why are we doing this? I mean that’s good news for somebody in the community area and you can go into a lot of detail about it, but there’s an organization and all that and the community assets are established. He starts grabbing all kinds of things. The first office, the first real estate business, I don’t know where the wife goes once a week and, you know, a maid or you know, a part-time secretary or, or that would be enough.

And suddenly, you know, he has a statement that he helped build the company. So how, how, how do you change it? As a general rule, what is not there cannot be taken away. So that’s the first. So there are a number of ways that you can take a business or an asset and put it into a trust, like a trust that’s not in your name, you’re not the trustee, you’re not the one who gets the blessing, but you want to get it. some special ways to manage or use later or make changes. So it’s a trick. I mean, one of the rules of it, another rule of thumb is to protect assets that you don’t just want to protect and not return.

Right, right. We don’t just want to protect. Let’s take a moment, let’s take a moment and go through community ownership as a foundation because it’s strong. And the fact is that when two people marry, they become one unit of the community, and the community has its own interests separate from each individual. So all seems well and good. But this can be misleading because it implies that every act you do in marriage is for the community. Even if you’re not going to build something for the community, let’s say you started a business, you know, before you got married, and you don’t want to share it. And the general rule is that if you, if you marry property, that means your property is one and the same.

So it’s okay, whatever, it all depends on the organization, unless you come before marriage or an inheritance or a gift to you, the person, not the organization, but what if. these assets grow during the marriage, and when the community’s efforts contribute to the growth of some asset, the community is happy. And of course, the business of wealthy individuals or business owners can grow significantly during marriage. So if that happens, I, as a divorce attorney representing the absent spouse, will go and sue the company to get some of the raise. How do you prevent my divorce attorney from getting my civil liability?

How To Protect Your Startup Equity During A Divorce

So let’s say it was a prenup. properly. good But it’s not a second or there, just hypothetically men go there. Whenever you work for a company, the business grows. You say it’s right. He did it for the community. I agree. I agree. Yes, it is difficult. I mean, one way to be part of a community is to be part of a community, so if that’s the case, start now if you can. You will then get all the information here, but only the highest, if. it may be a trust where the owner no longer controls, meaning it is not community property. I mean, it’s going to be the same as going to work. And since you may know a husband or wife who works in a law firm, let’s do it and work there. Well, you don’t get any joy out of thinking you’re not the boss. You don’t like it because you work for a job. That is why it will be so. Now the other details, for example working for a company that is not his. How does he get paid, I wonder if he gets any money. It’s okay. You know, it’s obviously part of the community.

So let’s look at our example, let me set the reality model a little different. So I am a husband and wife who are married and the husband owns several theaters. He said it was a very good fact because I’m sure all the theaters are owned by big corporations, but he owns the theaters. And they got married. There is no marriage, but this is a second marriage and everything is separate. They figure it out, stay married for 20 years. It was during this time that he really built the movie theater industry. He will open two or three more theaters. They are always in his name and are usually LLCs that are wholly owned by him. She’s divorced and says, “I want to be a part of growing up.” What can he do and what can he do differently?

Well, what can he do, maybe you can talk about what he can do now. Like because of him, he became so bad, he became bad. But what can he do, for example, to get a trustee, if he’s not a trustee, he’s not a beneficiary, he’s not in the picture. Maybe his kids or their kids are blessed or whatever. And this truck is now the subject, he, he does not control. So if you have a movie theater owned by a familiar trustee, he has no management skills. He has to go to a trusted person to write checks and everything. Well, that’s not good. So what’s up with that? You now have a trust to own an LLC or business. Perhaps, even though he is not a ruler, he can still be a ruler.

And the fact that there is no credibility, let’s say, Let’s think about the worst case scenario. So he finds himself taking his friend as a confidant. And you know, a friend developed a gambling habit and wanted to take over the theaters and sell them or something. Well, you can’t, because he, he, doesn’t behave well, you know, he has a steward, a movie theater, but the manager is still a man. So the man has all the authority to do anything or sign anything. And so I did it, the quick and dirty way to do it.

Postnuptial Agreements Archives

Ok let’s talk about that for a second. If you have one, when you set up your LLC, you should check whether the agent or CEO and your information can make the LLC a wholly owned trust. In other words, the ruler is now ruled and the ruler is a man.

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