Legal Question in Family Law in New Jersey
Equitable distribution of a family business in a divorce
My spouse and I are getting divorced after 25 years of marriage, during which time he started and continues to run a lawncutting business. Although I did not work side by side with him (I stayed home for 18 years raising our children) and subsequently have returned to the classroom as a teacher, I am wondering if I am entitled to 50% of the value of the business since it was started during our marriage?
3 Answers from Attorneys
Re: Equitable distribution of a family business in a divorce
Your husband and you were involved in a joint undertaking. He worked outside of the house and you ran the household. You are entitled to one half of the fruits of your joint labors, includng any busness he built during the marriage.
Gary Moore, Esquire
Hackensack, New Jersey
800 273 7933
www.garymooreattorneyatlaw.com
Re: Equitable distribution of a family business in a divorce
The general rule (with exceptions of course) in New Jersey is that all assets and debts acquired during the marriage are subject to being distributed between the parties at the time of divorce. It seems that the general rule would apply to the lawn business. Whether you would receive half or not is either something that the two of you will resolve by settlement or at trial.
Re: Equitable distribution of a family business in a divorce
Dear Madam: in New Jersey you will receive 'equitable' distribution of all assets, including any lawn business that was started during your marriage. it will likely be half of the value. Call me at 973-890-0400, if you would like me to assist you further. there is a lot at stake, and you need a good lawyer.
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