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Under CA divorce laws, what percentage of my husband's business would I be entitled to
Monterey Park, CA
Viewed 336 times.
Posted 11 months ago in Divorce / Separation
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BUSINESS:
I am cuurently married. My husband is starting a business partnership with a female who until recently i found out is having an affair with. My husband and i combine our earnings so of course some of my money is also being used to start this business. I want to protect myself and my 2 children. I want to know if I could be added as one of the partners (25% half of his 50%). I fear that after all this is said and done I am left without any furture earnings or any less than I deserve in a divorce settlement. I also want to know if it could be stipulated that should there be a divorce I still retain 25% since thanks to my money as well is this business being brought about. Thank you I really, really need this information as soon as possible since I believe they still have not offically sign any legal document.
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Answers (2)Warren Robert Shiell
This attorney is licensed in California and 1 other state.
Posted 11 months ago.
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In your question you did not state whether or not you will be seeking a divroce soon. I assume that you will be. You have several options but depending on the circusmatnces there may not be much community property in the partnership if it was just started unless there was a large infusion of capital. One option is to insist that you be added as one of the partners in the partnership agreement with full rights to review the books. You should conuslt with an attorney to draft this since you'll want provisions for withdrawing from the partnership account in the event of a divroce. Also you can ask for him to sign a post nuptial agreement that receive half of his partership interest as community property and try to determine what that interest is now. In the absence of either you would still be entitled to a community interest in the partnership but you would probably need to retain the services of a forensic accountant. This amount may be minimal.
Marshall William Waller
This attorney is licensed in California.
Posted 11 months ago.
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If your husband starts a business during the marriage and you ultimately get a divorce, then you will (with some limited exceptions) receive one half of the community interest (value) in that business.
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