This post from the New York Business Divorce Blog will make you think twice before becoming involved in a business with your romantic partner.
I recently wrote on the firm’s Iowa Law Blog that one way to avoid a volatile business divorce is to draft and enter into an effective buy-sell agreement with your partner(s). This is true whether you are entering into a business arrangement with your spouse, significant other or friend down the street. Rarely do partner spouses enter into buy-sell agreements. Like prenuptial agreements, it may not always be comfortable to form a buy-sell agreement with a spouse. But it is advisable nonetheless.