Legal Question in Family Law in New Jersey

My husband and I have a small trucking company. He drives the truck and I do all bookkeeping, dispatching, invoicing, DOT paperwork, etc. The business is in my name only as is the truck. He could never be bothered with computers or paperwork. Now that we have decided on a divorce, he thinks the business is his to keep. This is the only income for both of us. What is the law with splitting a business such as this? I could easily hire another driver and he thinks he could easily hire a secretary.


Asked on 8/27/14, 5:54 pm

2 Answers from Attorneys
Robert Gleaner Robert A. Gleaner, P.C.

It appears to me that the business is a joint marital asset and subject to equitable distribution between you and your husband. In the absence of an agreed upon buy out amount, jointly owned businesses are usually appraised and one party buys out the other at one half of the appraised value.

Keep in mind that this advice is based purely on the little bit of information that you have given to me. There certainly may be other factors that would change my opinion. Further, no one can rely on advice from an attorney who has not been retained. You will only be able to rely on advice from an attorney who you have actually retained. Good luck! Rob Gleaner

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Answered on 8/27/14, 6:11 pm
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

You own it together but clearly you can't operate it together after the divorce. It has to be valued and then we have to work out a settlement. If you want to keep it, we should be able to work this out for you. I have an office in Toms River. Call me anytime at 732/773/2768 to discuss.

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Answered on 8/27/14, 6:18 pm


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