You are here

Question about owning a business in my name

Annoyed1's picture

Submitted by Annoyed1 on Fri, 08/31/2012 - 5:14pm

Forums: 
Family Court

I am wondering if anyone may know something about this. I live in Canada and am opening my own business. I am opening this business under MY name and my name only. My fiance and I are getting married in a couple of months. He pays CS. Not through child maintenance, but through an agreement that they both made together. My fiance is going to be quitting his job and will be working for me. He will still paid the same amount in CS even though he will be making less money. I am wondering if she was to ever go back to child maintenance (for whatever reason), if my company could be taken into account when they assess my FDH finances? Here in Canada, the BM can NOT touch my money, I'm just wondering, since he will be working for ME (his wife - soon) if she could try to get a piece of my company? Any thoughts? I am even wondering if I should marry him, not because I don't love him, but because of his crazy ex! She suffer's from the golden uterus syndrome, so she wants as much money as she can possibly get.

arjuna79's picture

Submitted by arjuna79 on Fri, 08/31/2012 - 7:10pm

long time business owner here in the US. Once upon a time employed my DH. You need to keep very very strict records - from an employee file to tax info and as a precaution in your case, no business credit cards for him. Your CPA or business attorney should have the clearest guidelines for you. Keep it as airtight and impermeable as possible. (the other nightmares about employing a husband shall go unnamed here Smile ) Good luck!

Annoyed1's picture

Submitted by Annoyed1 on Wed, 09/05/2012 - 9:00pm

Thanks for all of the great advice!!! His wage is lower than what he was making, but he's still paying her the same amount as they agree'd on. I am going to talk to my lawyer next week and I will DEFINITELY have a pre-nup!

not2sureimsaneanymore's picture

Submitted by not2sureimsanea... on Mon, 09/17/2012 - 3:07pm

She should only be able to touch his wages, which means as long as he has no stake (stock, shares, whatever you want to call it) she cannot take any of your company's assets, and therefore your money.

Both of our businesses are currently in my name for that very reason. And his CS gets taken out of his regular school job.

He'd rather burn our business to the ground before he lets her touch any piece of it.