My name not listed on husbands corporation
Rockford, IL
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Posted 4 months ago in Corporate / Incorporation
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my husband owns a corporation owning the majority of shares, he personally owns the building too, my question is: my name is not listed anywhere in the corporation or building, where do i stand if we were to get divorced, would i be able to get part of that?
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Answers (2)Mazyar Malek Hedayat
This attorney is licensed in Illinois.
Posted 4 months ago.
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Your question conerns rights a corporation in which your husband is the majority shareholder. You would in fact be entitled to a share of the value of the company in the event of divorce if the company were built during the marriage; you haven't forgone or waived your rights; and your husband's interest is not diluted or hidden via a series of shell companies or shareholder agreements.
In short, there are a number of ways to look at this situation, but the bottom line is that you are entitled to 1/2 of what your spouse owns if that property arose from the marriage, was acquired during the marriage, or if marital assets (cash, etc.) were used to acquire those assets. I hope this information has been helpful. Feel free to contact us with any additional questions or follow up. Pamela Koslyn
This attorney is licensed in California.
Posted 4 months ago.
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In a divorce, both parties need to disclose to each other their assets, liabilities, income and expenses, so your share from the marriage would depend on what's there.
Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. |