What to do if you are going through a divorce and your spouse wants half of the profits from a business you are a part of?
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What to do if you are going through a divorce and your spouse wants half of the profits from a business you are a part of?
Talked about opening a business around my spouse and she didn’t want anything to do with it. The business is in my mother’s name. Does my wife have any right to that?
Asked on September 7, 2011 under Family Law, Georgia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I am so sorry for your situation. If you have an interest in a business that was opened during the marriage then your wife may indeed also have an interest in thebusiness in a divorce. You are taking the position that the business is separate property because it is in your Mother's name and she wanted nothing to do with it. But the reality of the matter is that it is a business that you participate in during a marriage and the money earned is marital money. I think that you should speak with an attorney on the matter. The business will have to be valued for purposes of distribution. Good luck to you.
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