QUESTION

Who gets paid first the spouse of the investor?

Asked on Jun 09th, 2016 on Divorce - Wisconsin
More details to this question:
Investing in a business with a husband and wife. Now they are divorcing and dividing up assets. who gets paid first the spouse of the investor?
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1 ANSWER

Divorce Attorney serving Milwaukee, WI
Partner at Karp & Iancu S.C.
4 Awards
Your question is sort of confusing; I am not sure there is a clear cut  answer to your question. There are "no priority claims" typically in divorce court, like there might be in bankruptcy court. As an investor, you are well advised to protect your investment by secured liens, written promissory notes and securing collateral, no different than any other lending institution might do, if you have concerns that your money may be jeopardized by the parties' divorce.
Answered on Jun 10th, 2016 at 5:39 AM

David B. Karp Karp & Iancu, S.C. 933 North Mayfair Road #300 Milwaukee, WI 53226 414 453 0800 dbk@karplawfirm.com www.karplawfirm.com

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