Legal Question in Family Law in New York

Business - Net worth, divorce

I am about to go through a divorce. My husband insists on 50/50 split. Which basically means I get 50% of his debt and he gets 50% of my retirement. He has his own business, which was started before our marriage. How do I know how much the business is worth? Most of the debt is business related. If I am entitled to 50% of his business does that also mean I get 50% of that debt to?


Asked on 3/02/08, 9:52 am

1 Answer from Attorneys
Kristen Browde Browde Law, P.C.

Re: Business - Net worth, divorce

Valuations of a business can be arranged through experienced professionals. You should consult with an experienced matrimonial attorney in your area, who can explain to you how equitable distribution would be applied to your case.

Equitable distribution, by the way, is not necessarily 50-50, and if the business was started prior to the marriage there can be other important considerations. Your attorney will work through these with you.

Read more
Answered on 3/02/08, 10:03 am


Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in New York