Legal Question in Family Law in New York
My wife and I will most likely divorce in about three years after over twenty years of marriage. I own income property through a corporation of which I am the only officer. Would she be entitled to half that value (i.e. half the property) even though it is actually owned by a corporation? What if I changed the sole officer to a friend for the time being to avoid her taking half. Would that hold up?
1 Answer from Attorneys
Your wife would be entitled to a percentage of the corporate stock not the individual property but in this situation it would be the same. If you brought a non equity share holder into the corporation it could backfire on you. You should sit down with a divorce attorney as soon as possible if you want to limit the liability.
Joel R. Salinger
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