got married 7 1/2 yrs back. husband owned company, some properties and family home. my husband is abroad from last 1 1/2 yrs. where do i stand?

Your rights with respect to your husband's  business debts depend on whether or not your husband's business is incorporated. If it is, the business is a seperate entity and thus is not your husband's personal property, so whatever financial difficulties it may have has no relfection on you. I assume the business is incorporated because you indicated it has shareholders.  If your husband were to die, a number of things could happen. If your husband has a will, his wishes for the business may be contained in it (as far as whether you become his replacement, a shareholder, etc.). If he does not have a will, any assets he may have left from the business or otherwise, would belong to you 50% and to his children 50%.  You may want to consider having a post-marital agreement put in place. This is a contract that allows you to indicate that any business debts or assets solely belong to your husband for the duration of your marriage. This would make the business affairs your husband's sole and separate property.