It doesn’t matter if all the shares are owned by husband or wife, so usually, the risk of divorce is not a good reason to have it be 50/50 ownership. The first reason people say is, “Well, I hope we don’t get divorced, but if we do we want to have clear that it’s 50/50 between husband and wife.” Well in most States, like Minnesota, ownership of an LLC or a Corporation is a marital asset, just like a piano or a car, and so for that reason, the value of it is divided up in the divorce process anyway. The next question is, “Is there any other reason to have it owned by two business owners?” So first off on that minority-owned question, I ask my clients, “Will you be applying for government contracts or are there customers that you’re trying to get who actually care whether the business is woman or minority-owned?” If the answer is they don’t care, then let’s not add that complexity to your business. The question often comes up, should we both own it 50/50? Or maybe 51/49? Often with the majority, 51%, owned by the female and then the owned by the male so that the business can be considered woman-owned or minority-owned. Maybe it’s an LLC, maybe it’s a Corporation. You might be forming a business with your spouse. I’m Aaron Hall, a business attorney in Minneapolis, Minnesota. Should my spouse and I own an LLC together? That’s the question I’m answering today. Are there any consequences of having 50/50 ownership?.Is there any other reason to have the company owned by two business owners?.Should my spouse and I own an LLC together?.In this video, you will get answers to these questions: