Legal Question in Family Law in California
my husband and I have a service business. If we divorce and I leave the company, will I be entitled to spousal support? Or compensation? We have been married over ten years. We started the business after we married, and I have worked in it since the beginning.
1 Answer from Attorneys
There is no simple answer to your question. The business sounds like it is pretty clearly a community property asset. You are entitled to half the value of the asset. So he will have to buy you out or you will have to buy him out. That does not, necessarily, have to be a cash buyout, however. For example if you have a house with about the same equity as the value of the business, one of you would take the business and the other the house. Spousal support is a separate issue. If you leave the business and have to find work, there is a good chance you would be awarded some spousal support to tide you over until you can find a job. If you got a cash buyout for the business, that might affect the amount of support but probably would not eliminate it. More detail than that would require a detailled analysis of your marital finances and evaluation of the options for distributions of assets, including the business.