Legal Question in Family Law in Idaho

We own a business together and he is spending too much money

We own 3 businesses together 50/50. At this point I do not completely trust what he is doing, and at times he seems to be spending or trying to spend all of the excess operating cash. Can I open my own account and transfer money from our business accounts in it, to be used for business uses just incase he does more damage and we do not loose the businesses? Do I have to consult him first? Can I do this and then consult him?


Asked on 5/27/03, 9:31 am

1 Answer from Attorneys
Gass Timothy Gass Law Office

Re: We own a business together and he is spending too much money

I can't answer that question without reading your partnership agreement, knowing if you are married or not, knowing the facts of your business. However, in general, assuming you are a tenant in common, you own 1/2 of the entire whole of the business. i.e. yes you can transfer at least 50% of the assets into a separate account used for the business, to protect the business. Without more info I can't answer further. I give a free half hour consultation in my office if you'd like to contact me and make an appointment. T/P 208-345-3817

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Answered on 5/27/03, 11:57 am


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