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Divorce and Protecting Assets

I'm self-employed in an industry that is slipping big-time. Now I'm getting a divorce. Will the small profit I expect to earn this year be counted as a personal asset in determining the settlement?


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Title to an asset in most states doesn't mean it belongs only to you in a divorce. A marriage is an economic partnership, and your wife will be allowed to participate in her share of the assets you acquired jointly. The only reason your business assets wouldn't be counted as an asset would be if you had started the business before you got married and both of you signed a prenuptial agreement stating that the business assets, income, and appreciation were yours alone.

Posted 2009-06-11T00:00:00Z
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@Dolans, i am reading your answer through entire website. All answer are perfect and problem solving.

Emerson, there are certain types of non-marital property which is not divided at the time of divorce.

Source: Asset Protection Divorce

Posted 2009-11-14T07:43:23Z
 

Make the most of your free credit report .

Many peoples credit scores suffer badly from all the financial changes that take place during a divorce.  Since you are thinking ahead about the financial implications take some time to plan the process of protecting your credit during divorce .

Posted 2009-12-04T21:27:19Z

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