Legal Question in Family Law in Utah
I am at the beginning divorce proceedings. I have been married for 26 years, raised 4 children (the youngest is 14 and the only minor left), kept house, and supported him while he built his successful career. I have left him the house, the equity, and the travel trailer. I have moved into an apartment of my own with our minor daughter. He is partial owner in the 'sister' companies he is employed with and my question is:
I have EARNED 1/2 of the percentage of his ownership in these businesses (i.e. he owns 10% of one and approximately 4% of the other) from his receiving date to the final date of our divorce. As I spent my entire life raising children and keeping his home, etc. etc., I do not have a 'tangible' career to fall back on to support myself! What are my options? How should I 'word' my entitlement(s) in the divorce papers? If possible, I would like a couple of suggestions, like full payout or royalties, or initial payment and then royalties, etc. etc.......
I do not believe the company is in a position to provide a complete pay-out so, the offer of royalties, etc. will probably be more readily received. This is fine with me as I do not want to jeopardize his career by demanding payment in full.
Thank you for your assistance.
1 Answer from Attorneys
First, you would be entitled to one-half of the value of any business interests he holds. This would be part of the property settlement in your case. As you have no recent work experience or apparent ability to maintain your standard of living on your own, you would also have the right to petition the court to be awarded alimony. If you would like to discuss this further, please feel free to contact my office to schedule a free initial consultation and we can talk about what your options might be in your case.
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