LLC owns real estate - divorce proof??
4 attorney answers
The company assets would be distinct if your LLC is properly maintained, but your 100% ownership interest means that you are entitled to 100% of any profits, and that is a tangible personal property interest that would be relevant in any divorce proceedings. The company assets might be "divorce proof" (depending on the degree to which you have adopted corporate formalities pursuant to an operating agreement), but your ownership interest/right to profits is not and cannot be made so. See a local family law attorney for a more precise opinion on how to plan for divorce as a business owner, and see a corporate lawyer for corporate governance questions. If possible, you might consider retaining a small general practice firm in which there is a lawyer in both areas of law, which might help you adopt a more holistic legal strategy for going forward in divorce proceedings, with your business as intact as possible. Best wishes to you in wading through these very important questions.
If the LLC was acquired or formed during the marriage and there is not prenuptial agreement saying otherwise, then yes. If this is more than a hypothetical question, I suggest you get in touch with a NY Divorce attorney asap to discuss. Good luck!
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Your membership interest is among assets & liabilities considered in the divorce proceeding.
Q. LLC owns real estate - divorce proof??
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