QUESTION

Am I entitled to half of the profit from the sale after divorce?

Asked on Sep 28th, 2012 on Divorce - Massachusetts
More details to this question:
He has a restaurant in his name for the past ten years. It was sold during the two years while we were married. We are now filing for divorce. He is now collecting monthly payments for the sale.
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1 ANSWER

Stephen P. Kelly
"Entitled" is a loaded word. You are really not "entitled" to anything specific in a divorce settlement. Generally, you will be entitled to a portion of your "marital property." Basically, marital property is anything you or your spouse acquired during your marriage. Given that your spouse apparently had the business prior to marriage, it is questionable whether the entire business can be considered marital property. However, any equity acquired in the business during your two year marriage might arguably be considered marital property. That said, the question really is what is fair to both parties given the circumstances surrounding the divorce, the length of marriage, and the ability of the parties to provide for themselves; and, most importantly, what the parties can agree on.
Answered on Oct 01st, 2012 at 2:14 AM

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