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TSmit
recently joined

Reged: 02/17/10
Posts: 1

Protect our business from ex wife

#634362 - 02/17/10 12:44 PM

Hello There!
My fiance has recently gone through divorce trial (Ontario). His ex-wife, through manipulation and deceiptfulness, (very common today due to the bias of the court) got everything and will be getting half his pay cheque for the next 10 years or more. My fiance doesn't have enough money to meet our expenses now. Even though she has won everything and should be happy now - she is just not a happy person and is always seeking revenge and blaming everyone for her percieved problems in life - including her own children. We are afraid she will be back for more. Instead of feeling sorry for ourselves we have decided to rise above it and forge ahead. We have two small businesses that we started a year and half after they separated. If we 'incorporate' those businesses will this stop her from being able to take us back to court everytime she even thinks she smells more money? We need to protect ourselves. We deserve to save for our future and have a nice life too.
Thanks
T

Edited by TSmit (02/17/10 12:48 PM)

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d2njti
member

Reged: 03/05/08
Posts: 187

Re: Protect our business from ex wife

[Re: TSmit]
#634397 - 02/17/10 01:47 PM

"will this stop her from being able to take us back to court" No. Anyone can sue you for anything at anytime. Whether she could be successful would depend on what the terms of their MSA were, and how a judge might interpret the evidence.
Incorporation would protect the owners from liability of the business. (e.g. someone gets hurt using one of your products.)

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