Business name change

[sittinpretty]

What is the name of your state? Michigan
I am now divorced and own a struggling home based business. Under duress, I agreed to allow my ex, "25% of my net annual profit, if any" up to the value of his 401K. My business is all but defunct right now, bank accounts closed, etc, but I plan to re-establish it soon. If I re-open it under a different name, will I still be obligated to pay him? How much of a change in the original name is considered a new name?

 

[HomeGuru]

What is the name of your state? Michigan
I am now divorced and own a struggling home based business. Under duress, I agreed to allow my ex, "25% of my net annual profit, if any" up to the value of his 401K. My business is all but defunct right now, bank accounts closed, etc, but I plan to re-establish it soon. If I re-open it under a different name, will I still be obligated to pay him? How much of a change in the original name is considered a new name?

**A: you can change your name a million times and still be liable. The key factor here is the intent and purpose, not the biz name. But I like the name sittinpretty, it's a heck of a lot better than standinugly.