Legal Question in Family Law in Massachusetts

family business

Going though a divorce and we have a business which i own 100% of the shares - I fired my to be ex - Im in negotiations on a settlement with her between the home, assets and the business. She just opened a competitive shop doing the same business with my employee - will she still be entitled to a settlement from my business or just the personal marital assets?


Asked on 10/19/06, 3:31 pm

2 Answers from Attorneys
Joseph Murray Joseph M. Murray, Esq.

Re: family business

All assets owned during the marriage are considered marital property to be divided in a divorce. Retain an attorney to prepare a mutually acceptable divorce agreement which you will need to submit to the court anyway and "negotiate" with your "soon to be ex" only through that attorney. Good Luck!

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Answered on 10/20/06, 4:37 pm
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

Re: family business

The short answer is yes.

Since you are asking the question, you either do not have an attorney, or your are questioning something your attorney told you or should have told you.

The property division deals with assets existing during your marriage. The interesting issue here is if your wife to be ex is violating rule 411, the financial restraint rule that bars the expenditure of assets except during the normal course of business.

I suspect that she is, and that is an avenue for a contempt action. Your question has some complexity to it, and you should really sit down with an attorney and provide the broader picture.

You are welcome to contact me, and I can set an appointment for you.

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Answered on 10/19/06, 4:19 pm


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