Warning to All Business Owners: Save Your Business, Ensure Your Love!

Available for Interviews: Teddi Ann Barry

Teddi Ann Barry, Esq. is a family attorney and writer and has been serving families through divorce and custody and has been practicing family law for over twenty years, and also comes with a wealth of experience in mediation and collaborative law.

What Teddi Ann Barry can say in an interview on
Protecting Your Business in the Event of a Divorce:

If you have your own business and are thinking about getting married or already married and starting a business, consider protecting your business from a possible divorce later.

Examples

Max had a mining business and no postnuptial agreement. He kept his business in the divorce and his spouse got $300,000 more of the marital estate.

Joe had a medical practice and no post-nuptial agreement. He kept his practice and his spouse was awarded over $2 million more of the other marital assets in the divorce.

Jack has a cannabis company and his partners all made their spouses sign postnuptial agreements when they started the business. The company is thriving and was protected from one partner’s divorce.  

    • Whether you are about to get married or already married and starting a business you can sign a contract, known as a premarital agreement if you’re not yet married, or a postnuptial agreement if you are already married, to protect the business from a potential divorce.
    • The agreement can say whatever you earn from the business during the marriage and any future value of the business will remain your separate property—not marital property—should you divorce.  So long as you fully disclose the value of the business and any assets of the business before entering into the agreement, you can protect your business as separate property.
    • Keep your business accounts separate from marital accounts.
    • Try to fund your business without using marital funds or using marital assets as collateral. If you have to use marital assets or funds to start a business, then make sure to address any amounts to be paid back to the marriage (or considered marital) should you divorce.
    • Consult with a lawyer when drafting and before signing any agreements.

 

Interview: Teddi Ann Barry

Teddi Ann Barry, Esq. is the Founder of Teddi Ann Barry, PSC., and has been an attorney for over twenty years. Other areas of law practiced are mediation and collaborative law. Teddi is based in the Cherry Creek office and practices family law exclusively.

Teddi is a former guardian ad litem and Respondent parents’ counsel, representing the best interests of children placed in the custody of the State and the parents accused of abuse and neglect of their children by the State.

As an alumna of Creighton University in Omaha, Nebraska for both her undergraduate and Juris Doctorate degrees, Teddi is proud to have been educated at Creighton University which is one of 28 Jesuit Catholic universities throughout the country, that teaches, among many wonderful values, service.  I have been serving others in family law since 2000.

Teddi has been a business owner for over 17 years and continues to build a firm with experienced and well-respected professionals who can offer the highest level of client care, advocacy, skilled negotiation, and litigation if and when absolutely necessary.

 

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Jo Allison
Managing Editor
Director of Public Relations
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Jo@SuccessInMedia.com

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