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Dan Gold - Be Cautious at your Business if Things are Tough at Home

February 8, 2020

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Dan Gold of Tredway, Lumsdaine & Doyle, LLP provides a few great tips for business owners to think about when there are relationship problems at home.

Transcript: 

Bill: Things aren't going well at home and you're a business owner, what should you be thinking about? Here's attorney Dan Gold. 

Dan: You shouldn't do any major financial transactions if you think there's going to be a divorce going on, it just creates a whole series of nightmares. If it's absolutely imperative that is has to be done, then talk to your spouse, or at least through the attorneys talk to the spouse, get that consent, get an understanding of why that has to be done and an understanding of how it's going to be paid for and what's going to happen to it in the business context. The key component is make sure that you have either express or implied authority to move forward on everyday things. Generally, normal business transactions are not forbidden in divorce cases, you can that. The challenge is, of course, making sure that major decisions are always accounted for. As long as the spouse is in control and they provide disclosure to the other spouse of what's going on, generally, doing accounting, there isn't really a problem. 

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