Legal Question in Business Law in New York
Abolishing a partnership D.B.A.
What has to be done to abolish a D.B.A. Partnership, and set it back up as a sole proprietership? Partners are married and filing for divorce.
Asked on 9/27/05, 11:49 am
1 Answer from Attorneys
Peter Moulinos
Moulinos & Associates LLC
Re: Abolishing a partnership D.B.A.
If the partnersip has assets, they are subject to equitable distribution being that both partners are married and now filing for divorce. Hence, you should have a settlement agreement in the divorce, agreeing to the distribution of the assets, prior to setting up a new sole proprietorship.
If you need further assistance on this matter, please feel free to contact me at your convenience.
Answered on 9/27/05, 12:12 pm
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