More details to this question:
The business is an LLC with no other owners or partners, started after we were married and I have provided a lot of emotional support. I have also worked for the company from time to time and was not even paid minimum wage. We are getting a divorce and live in a 50% split state.
7 ANSWERS
Short answer yes if you live in Texas.
Answered on Apr 11th, 2013 at 11:42 AM
Generally you are entitled to some of its value but there are many facts to consider.
Answered on Dec 06th, 2012 at 1:23 PM
Yes, the business is a community asset to which you are entitled to a share. Business evaluation is difficult and you should consult a family law attorney to get a good appraiser.
Answered on Dec 06th, 2012 at 1:23 PM
Probate Law Attorney serving Colorado Springs, CO
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John E. Kirchner
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In a divorce you are only "entitled" to the appropriate share of the marital property that either you and your husband agree is fair or the share that a judge determines to be appropriate under the law. There are no absolute rules about how a court must deal with a business and the decisions must be made in the context of the overall financial situation as well as the nature of the business.
Answered on Dec 06th, 2012 at 1:23 PM
There is certainly a community property interest. You need a financial expert.
Answered on Dec 06th, 2012 at 1:22 PM
Family Law Attorney serving West Bloomfield, MI
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Law Offices of Eugene Lumberg and Eric S. Lumberg
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You may be entitled to a share of the business or spousal support.
Answered on Dec 06th, 2012 at 1:22 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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The business is a marital asset and subject to equitable distribution. The starting point is 50% each and this is negotiable.
Answered on Dec 06th, 2012 at 1:21 PM