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Spouses of business owners: Know if you're entitled to assets

If you are not the spouse who ran a business during your marriage, you might think it's fine to leave the business alone and to walk away. However, you're likely entitled to some part of the profits from that business and may even be liable for some debts.

How can you protect your business from divorce?

Business divorce is a term that refers to divorces that involve a business that both spouses own or that one spouse runs alone. One of the primary concerns of a solo business owner is whether the other spouse has a right to the business in divorce or not. Sometimes, spouses who have helped support the start of a business want to see the reward of doing so. Other times, a business that was already established may have little to do with the other spouse.

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