Full question:
My husband and I have been married 24 years. We established a business together 14 years ago. I, however, am not listed as an owner, but an officer in the company. I am considering divorce and would like to know if I'm entitled to monetary reimbursement or half the company?
- Category: Divorce
- Date:
- State: Georgia
Answer:
We cannot give legal advice. The following is not a substitute for the advice of a local attorney. But we hope the information will be useful.
Cosmetic details such as who is listed as the owner of the company are not going to carry much weight if the truth is something different. If you and your husband contributed equally to the company (and the equality of contribution should be construed very broadly), then you should be entitled to half of the value of - or half of the income stream of - the company. If the case were to go to trial, and possession of the company was at issue, you would testify to the judge about your involvement in the company. If the company is found to be an asset of the marriage, it will be divided accordingly like everything else. Most likely you will negotiate with your husband through attorneys and an agreement will be reached on the division of most, if not all, marital assets and debts. If you decide to go through with the divorce, it is essential for you to meet with a local divorce attorney so that your rights can be fully protected.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
