One of the most common mistakes a business owner can make is failing to properly establish and maintain a business entity separate from their personal assets. By creating a separate business entity, the business owner or owners create a liability "shield" for the activities of the business and its employees. There are many entities available, but the most common entity formed is a Limited Liability Company ("LLC") that has the business owner or owners as "members" of the LLC.
There can be many reasons why a married couple would consider divorce, whether it be due to the actions or inactions of one of the spouses or whether both spouses agree to terminate the marriage. To file for divorce in South Carolina, the filing partner, or Plaintiff must be a resident of the state for at least one year (However, when both spouses reside in the state, the Plaintiff must be a resident for three months).
A pre-nuptial agreement is a legally binding contract between two people in contemplation of marriage that outlines how assets and liabilities are to be divided between them in the event the marriage ends in divorce.
It recently dawned on me that most people have never hired an attorney before and do not know what to expect when going through that process.