In our last post, we discussed placing some of your business interests in a trust for the benefit of your children as one possible tool to allow you to protect your business from losses in the event of a divorce. As we said, this strategy will not only protect your business interest from your spouse, but will also protect those assets from your children's indiscretions and potential future divorces.
On this blog, we sometimes discuss ideas people may want to consider in planning for a divorce. Divorce planning is particularly important for business owners who stand to lose a lot of money in a divorce. This post suggests that gifting some of your business interests to your children in a trust may be an excellent tool to accomplish several goals at the same time.