Ed. Note: This is a guest post by Fred J. Cohen, Esq.
Most couples get married thinking that it will last forever and a day, but the reality is that more than half of first marriages end in divorce, while second and third marriages fare even worse. Let’s face it: divorce is never easy, and these proceedings often become contentious, particularly when it comes to dividing the marital property. These questions can become even more complicated when one or both spouses own a business. It takes dedication and perseverance to build a successful business and a divorce can undermine years of hard work and sacrifice, especially in cases where a spouse may be entitled to a significant percentage of the business. There are steps you can take, however, to protect your business assets.