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Though it may seem counter-intuitive, preparing a prenuptial agreement or “prenup” actually can be very good for a relationship. It can help to place a couple on the same page, forcing them to address the future, their attitudes towards money, and how their financial affairs are going to be managed.

A 50/50 shareholder in an S corporation comprised of several different entertainment businesses wanted a corporate divorce from his co-shareholder. Under the settlement, certain corporate assets were to be transferred to one of the shareholders in exchange for all of his stock. The assets in question were worth more than $2.5 million. What’s wrong with this arrangement?  The answer is EVERYTHING.!!!

In a recent case decided by the Bankruptcy Appellate Panel for the 9th Circuit, the court refused to discharge a debt incurred by the debtor who previously acted as the administrator of an estate.

It is quite common for lenders to require certain loans be personally guaranteed by one or more of the principals. However, lenders' ability to pursue guarantors if the borrowing entity defaults, though often perceived by lenders as limitless, does indeed have its limits.  

In the music world, big hits come and go, but for a song to remain popular 30 years after its release is extremely rare. When these exceptional pop treasures do emerge, it can mean a lifetime of royalties for the artist.  But if the record company doesn’t accurately report those numbers, the songwriter must take swift and aggressive legal action to get paid what they’re due.

In my last post, I discussed the possible effects a divorce may have on your estate planning, specifically the Automatic Temporary Restraining Orders (ATROs) that snap into place as soon as your dissolution is filed. So what steps can you take before filing to protect your right to engage in estate planning free from the ATROs?