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Divorce
Am I entitled to half of my husband's business in a divorce?

Am I entitled to half of my husband's business in a divorce?

Q: Should you start a business while going through a divorce?

Starting a business during a divorce can complicate the proceedings. Any income or assets generated may be subject to division in the divorce. It's important to consider the potential impact on your financial situation and consult with a divorce attorney before making such a decision.

Q: Can my ex-wife come after my business?

Yes, your ex-wife may have a claim on your business if it is considered a marital asset. If the business was established during the marriage or if marital funds were used to support it, she could seek a share of its value. Legal advice is crucial to navigate these issues.

Q: Does a spouse have rights to an LLC?

Yes, a spouse may have rights to an LLC if it was created during the marriage or if marital resources were used to fund it. The court may consider the LLC as a marital asset, and its value could be subject to division in a divorce. Consulting a divorce attorney is recommended for specific guidance.

Q: What is a spouse entitled to after 20 years of marriage?

After 20 years of marriage, a spouse may be entitled to a significant portion of marital assets, including property, savings, and potentially spousal support. The exact division depends on state laws and the specific circumstances of the marriage. Legal advice is essential to understand individual rights.

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: 04/07/2025
State: Georgia

Answer:

While I can't give legal advice, I can provide some general information. The ownership designation in a business may not be the deciding factor in a divorce. If you and your husband contributed equally to the business, you may be entitled to half of its value or income. In court, you could testify about your role and contributions. If the court determines the business is a marital asset, it will be divided like other marital assets. Typically, you and your husband will negotiate through attorneys to reach an agreement on dividing assets and debts. It’s important to consult a local divorce attorney to protect your rights.

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.

FAQs

How many years is considered a long term marriage?

A long-term marriage is generally considered to be one that lasts 10 years or more. In divorce proceedings, the length of the marriage can impact the division of assets and spousal support. Courts often view longer marriages as having a greater need for equitable distribution of marital assets.

What happens if I start a business before my divorce is final?

If you start a business before your divorce is finalized, it may be considered a marital asset if it was established during the marriage or if marital funds were used to support it. The court may divide the business's value or income as part of the divorce settlement. It's advisable to consult a divorce attorney to understand your rights.