Nizhny Novgorod lawyer shared how to protect a business from collapse.

      May 22, 2026 14:36 Economy The divorce of an owner and their passing pose comparable risks for a company if the entrepreneur has not prepared for such scenarios in advance. This was stated by Irina Fast, the chairwoman of the regional branch of the Russian Lawyers Association, in an interview with NIA "Nizhny Novgorod."

      According to her, for a sustainable business, neither divorce nor the death of the owner becomes a catastrophe if the possible consequences have been thought through in advance. In legal practice, this is called estate planning.

      "When an entrepreneur has built a large, serious business, invested their energy, life, and money into it, and at the same time does not think about what will happen to this business after them, it is quite a frivolous attitude towards the future of their creation. This is something to consider in advance. Some people do detail everything, but there are not many of them. More often, a person simply does not want to think about it," noted Irina Fast.

      Meanwhile, there are various mechanisms for transferring assets and management. A company can be passed on to heirs by law or by will, transferred to a team, or moved into personal funds. In some cases, arrangements are made in advance for emergencies: a personal representative is determined, management procedures are outlined, and powers are distributed.

      The divorce of owners can also seriously complicate the life of a company. In such situations, emotions come into play, and the business begins to be divided not so much from a financial perspective as against the backdrop of personal experiences. In such an atmosphere, it is extremely difficult for the parties to agree rationally.

      The consequences are particularly severe for those who did not foresee protective mechanisms in advance. The absence of a prenuptial agreement and provisions in the charter limiting the possible entry of spouses into the company’s participants upon divorce significantly complicates the situation.

      "This is something that needs to be thought about in advance. We go for a health check-up: we go to the doctor, and they tell us that cholesterol is high, we need to lose weight or engage in sports. And we do this because we understand there is a risk. But in business, even going to the 'doctor' is not done," concluded the lawyer.

      The communication with the lawyer took place within the framework of a joint project of the media group NOIC and the Nizhny Novgorod regional branch of the Russian Lawyers Association called "So You Know."

      Let us remind you that NIA "Nizhny Novgorod" is conducting an online conference with lawyer Irina Fast. Until June 13, the lawyer will answer questions from Nizhny Novgorod residents about inheritance disputes, the division of business and property, asset protection, risks for owners, and ways to maintain control over capital. Questions can be asked here. NIA "Nizhny Novgorod" has channels on Telegram and MAX. Subscribe to stay updated on major events, exclusive materials, and timely information. Copyright © 1999—2025 NIA "Nizhny Novgorod." When reprinting, a hyperlink to NIA "Nizhny Novgorod" is required. This resource may contain materials 18+.