Legal Question in Family Law in California
Splitting Assets In A Divorce
I started a business before we got married. I own 100% of the Companies stock but she is listed as an officer. In a divorce, would she get 50% of the Company and it's assets or do I retain ownership?
Thx.
3 Answers from Attorneys
Re: Splitting Assets In A Divorce
There likely is a community property interest, unlikely that it may be as high as 50%. Facts regarding its income and whether or not that income was re-invested into the business are factors to be considered. You will need to have an attorney assist you for a fair and economical settlement. Call me directly at 6192223504.
Reply: Splitting Assets In A Divorce
In a general sense, if the ownership in the business was acquired prior to the date of marriage, it is your separate property. The community may have an interest if the value of your company ownership increased during the marriage.
For a specific opinion regarding your individual circumstances, I suggest that you consult with an experienced family law lawyer. Experience is not expensive, it's priceless!
You will find some valuable information on various California family law issues by visiting my web site.
Good luck to you!
Brian Levy, Esq.
www.calattorney.com
Re: Splitting Assets In A Divorce
There is probably some community interest, but not necessarily. There are two different court cases that define when the marriage community may acquire an interest in a separate property business. I would suggest that you will need an experienced family law matter who can help you decide whether there is any interest and, if so, how to calculate that interest. Good Luck, Pat McCrary
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