- CREATING A TRUST OR SEPARATE BUSINESS ENTITY – This will help you protect your business from the equitable distribution process during a divorce. When a separate business entity is formed such as an LLC or corporation, it creates a separate entity that owns the business assets. However, keep in mind that marital assets are not used to pay for business expenses, or the business may still be seen as a marital asset, despite the separate entity.
- MARITAL AGREEMENTS – You must have a prenuptial or postnuptial agreement to set out the terms for property division during divorce. It is better that instead of court determining the equitable distribution of assets and debts, the property will be distributed according to the agreement establishing the assets of your business is separate property and will remain your separate property in any divorce proceedings.
- KEEP YOUR SPOUSE DISTANT FROM THE BUSINESS – Make sure that your spouse is not employed in the same business or helps to manage aspects of the business, as it will amount to deemed marital property i.e. entitled to a portion of the business. Therefore, spouse involvement in the business must be avoided to avoid giving up any share of the business.
- NEGOTIATING WITH OTHER ASSETS – At the time of divorce distribution of assets is not necessarily split in 50/50. You or your spouse may acquire full ownership of some assets and the other spouse keeps other assets. If the concern is to have business assets you have to give up the other assets like the family home, retirement assets.
- AVOID USING MARITAL FUNDS TO PAY BUSINESS EXPENSES – Avoid using marital funds to pay for business expenses. Maintain the records of the business finances and avoid commingling funds with martial funds.
HOW DIVORCE LAWYER AT THE LAW OFFICE OF G.S BAGGA AND ASSOCIATES MAY ASSIST & HELP YOU?
- We help in making our clients understand and explain the grounds for divorce and save from fault grounds.
- We ensure our clients emotional state by providing support with legal factors to secure our clients future and custody issues.
- We help is maintaining the local assets, collect records, liabilities o that the divorce settlement is addressed.
- We ensure that our clients receive the share of property that the marriage has brought in.
- We help in protecting our clients from any debt that is owed to the other spouse.
- We provide great assistance while preparing the papers for divorce with all the essentials and information required.
- We assist our clients preparing a custody plan/parenting plan which will fulfill the need of the child and the parents.
- We provide great litigation skills for our clients case to resolve disputes regarding maintenance, child custody etc.
- We ensure our best in winning the case for our clients.
- We ensure that our clients are taken care of every need and provide the justice that they want.
The best thing you can do to ensure a positive outcome from your divorce case is to hire the right divorce advocate to help you navigate this process. Your advocate can provide the objective point of view of your situation that you may need to counterbalance the emotional weight of the situation. When it is difficult to focus on practical matters because of denial, anger, or despair, your advocate can be the voice of reason who guides you through your divorce case with your best interests in mind at every phase.
At G.S. BAGGA & ASSOCIATES, we understand the emotional side of divorce and help you prevent it from interfering with the practical side of the process. Our firm has years of experience helping clients navigate complicated divorce proceedings in Delhi and can put this experience to work in your case. If you are having trouble accepting that your marriage is ending and are unsure of what you should do next, contact us on G.S. BAGGA website and schedule a consultation with our team. We will help you maintain a more objective view of the situation and preserve your best interests through every phase of your divorce case.
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