Legal Question in Family Law in Minnesota
Husband just bought a business in his name only
My husband just bought a business and it is in his name only. I am working now, but if the business does well I will be able to quit and stay home with our children when we have them. If we ever get divorced will I get half of the business or how do I ensure my financial security?
2 Answers from Attorneys
Re: Husband just bought a business in his name only
Generally speaking, any asset acquired by either spouse during the marriage, which was not a gift from a third party to one spouse only, or an inheritance received by one spouse only, is marital property subject to equitable division by the court. So you would have a right to make a claim for a marital interest in the business even though he may think of it as "his" business. This email is for educational purposes only and is not legal advice.
Re: Husband just bought a business in his name only
Generally speaking, any asset acquired by either spouse during the marriage, which was not a gift from a third party to one spouse only, or an inheritance received by one spouse only, is marital property subject to equitable division by the court. So you would have a right to make a claim for a marital interest in the business even though he may think of it as "his" business. This email is for educational purposes only and is not legal advice.
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