Am I entitled to any of the business that my husband own now that we are divorcing? 12 Answers as of April 18, 2013

My husband owned the business before we married. We both worked in the business for the past eight years. Am I entitled to any of the business now that we are divorcing?

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Grace Law Offices of John F Geraghty Jr.
Grace Law Offices of John F Geraghty Jr. | John F. Geraghty, Jr.
Yes since you helped to build it through your work efforts.
Answer Applies to: Georgia
Replied: 4/18/2013
John Russo | John Russo
If you actually did work in the business then yes.
Answer Applies to: Rhode Island
Replied: 4/18/2013
Law Offices of Arlene D. Kock
Law Offices of Arlene D. Kock | Arlene D. Kock
There may be a community property interest in the business.
Answer Applies to: California
Replied: 4/17/2013
Law Office of John G. Galasso | John George Galasso
Business profits are maritial assets. You attorney would have to get the company financial records.
Answer Applies to: Ohio
Replied: 4/17/2013
Law Offices of Frances Headley | Frances Headley
Possibly. It depends upon the adequacy of the salary you drew and if community funds were invested in the business. You should consult a family law attorney to review all of the facts and advise you.
Answer Applies to: California
Replied: 4/17/2013
    Woods, May & Matlock, PC
    Woods, May & Matlock, PC | Robert J. Matlock
    The facts you outlined are not sufficient to give you a specific answer. Generally, any asset acquired prior to marriage is separate property and cannot be awarded to the other party. However, there are exceptions for reimbursement claims, possible changes in the business formation, etc. that may give rise to a claim by the other party. I suggest you hire a lawyer.
    Answer Applies to: Texas
    Replied: 4/17/2013
    David A. Browde, P.C.
    David A. Browde, P.C. | David Browde
    That depends. Has the value of the business increased because of your contribution?
    Answer Applies to: New York
    Replied: 4/17/2013
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    You really need a good attorney who understands both business and divorce law. Yes, you have a very strong potential of having some rights in the business.
    Answer Applies to: Michigan
    Replied: 4/17/2013
    The Davies Law Firm, P.A.
    The Davies Law Firm, P.A. | Robert F. Davies, Esq.
    Under the law of New Jersey where I practice law, YES!
    Answer Applies to: New Jersey
    Replied: 4/17/2013
    Danville Law Group | Scott Jordan
    Yes, you may be entitled to a portion of the increase in value of the business. In small companies that may mean the appreciated value in goodwill accumulated during the marital period. Exactly how much that is, is difficult to say and requires a very careful evaluation of the business. Usually a forensic accountant is required.
    Answer Applies to: California
    Replied: 4/17/2013
    The Law Offices of Seth D. Schraier
    The Law Offices of Seth D. Schraier | Seth D. Schraier
    Businesses, professional practices, and enhanced earning capacity attributable to the attainment of a career, or professional license, educational degree, profession or license is considered "property" subject to equitable distribution. However, interests in a business or career may be difficult to divide, or it may be undesirable to do so. In this situation, the court will typically award the actual business or practice to the spouse who is running it, awarding the other spouse property to make up the difference.
    Answer Applies to: New York
    Replied: 4/17/2013
    Scott McGowan | Scott McGowan
    Yes, you could certainly claim a portion of the business equity.
    Answer Applies to: Connecticut
    Replied: 4/17/2013
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