Getting divorce after starting a company in Florida


0

I am a married guy in state of Florida and I am in the initial phase of my first web startup. Well, the things are not running smooth at personal level and sooner I will be getting a divorce with my wife.

I have not formed my company yet under state of Florida as its in development phase right now. There are couple of things that might happen:

  1. I register my company after getting divorce (even though my web app is LIVE).
  2. I register my company before getting divorce (my app is LIVE!)

Is option 1 is the safest route and is it legal? If not what are going to be the consequences for option 2?

Thank you!

Getting Started Conflicts

asked May 11 '13 at 04:29
Blank
Coder
28 points

1 Answer


2

I don't do family law, but if the point of this question is to ask how you can keep your wife from getting half of the company in the divorce, you are probably out of luck and this is probably the wrong forum. Whether you have formed a corporation or not, you have assets in that venture that were most likely purchased with marital funds. You will most likely need to disclose these on the financial disclosures you are required to fill out during the divorce. A family law attorney would know more about this than I would.

If the point of the question is to determine if you need to "register" your company to do business, the answer is up to you. You do not need to incorporate to do business in Florida. You are presumed to be operating as a sole proprietorship. This does not provide you with any liability protection. Incorporating (LLC, S-Corp, C-Corp) adds the liability protection.

My advice would be to run the business in a way that is best for the business. I would rather have half of a great business than half of a failed business.

answered May 11 '13 at 05:37
Blank
Stephen Burch
915 points
  • Thanks Stephen. This is a great answer. I am funding the development from my own bank account/paycheck. So, I think this denies that I have assets in the venture. So you are saying is that in Florida, I dont have to incorporate anything? So that means that I am not in liability protection? What that means? Can you please brief me on that? – Coder 7 years ago

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Getting Started Conflicts