The end of a marriage is a challenging time for most Maryland couples. A lot of issues typically need to be addressed, from child support to property division. If one spouse owns a business and fails to plan ahead, those assets may also end up being split, jeopardizing the future of the company and the spouse's income. Taking preventive measures to protect the business may go a long way to minimize the potential impact of divorce.
Before the wedding, a business owner can take steps to divorce-proof his or her company. This can be done through a prenuptial agreement that lists the business as individual property, exempt from the division of marital assets upon divorce. If it is too late for a prenup, a postnuptial agreement can accomplish the same goal.