Legal Question in Business Law in Pennsylvania

Re: Excluding a husband from a new business with someone else

All assets acquired during the marriage are marital property subject to distribution between the parties in a divorce proceeding, even partnerships. To exclude your business from your husband in the event of a divorce, you would need to enter into a post-nuptial agreement where your husband waived any right to the business in the event of divorce.

Re: Excluding a husband from a new business with someone else

The issue you raise must be throughly evaluated by an attorney. Your facts are quite limited. Assuming there is no separation at the time a business is started, in a divorce proceeding the value of the business will affect the outcome of a divorce. I suggest either of two alternatives. The first would be to have a buyout agreement in the event of a divorce. Secondly is to have the husbands waive any interest in the business in writing. Please remember in the event of a divorce the court will not interfere with a business but only assess the one half value in a divorce proceeding. I hope that this is helpful.

Re: Excluding a husband from a new business with someone else

The short answer is maybe. Depending on the circumstances, a trust or limited partnership or limited liability company may be able to shield the business. However, proper advance planning with an attorney is required.