Wife is sole officer in our LLC, in divorce, am I entitled to half

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1. 

   Howard M LewisPro

   Framingham Divorce / Separation Lawyer

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   Answered February 18, 2012 15:16. I am sorry that you are going through this. The quick answer is that you are entitled to more than zero, the facts in between are what are important. I would suggest that given your statements you are entitled to quite a bit. Please find a local attny that you feel comfortable with and work with him or her and you will be protected. I hope that things get better, take care.

   Legal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to... moreLegal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Massachusetts. Responses are based solely on Massachusetts law unless stated otherwise. less

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2. Licensed in MD

   

   Michael DeHaven

   Baltimore Divorce / Separation Lawyer

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   Answered February 20, 2012 15:16. You are not “entitled” to anything. In Maryland, a Judge can not award you any share of the business. However, as my Maryland colleague explained, you may ask to receive a marital award as payment for the marital share of the value of the LLC. If your wife refuses or if you believe that the value she has placed on the LLC is too low, you will need to present evidence of the value (typically through a forensic accountant) and ask for a marital award based in part on the value of the LLC. There are many factors that a Judge (most likely Shockley if Worcester County is the venue) would consider in determining a marital award, and you may also have a claim for alimony, based upon the information that you have provided. I would be happy to discuss these issues further and suggest some names of local lawyers who you should consider retaining to assist you in this matter.

   Please be advised that this response does not constitute "legal advice," nor does it create an attorney-client... morePlease be advised that this response does not constitute "legal advice," nor does it create an attorney-client relationship. You should seek counsel of an attorney before taking any actions or deciding not to take any actions. less

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3. Licensed in MD

   

   Stuart GrozbeanPro

   Rockville Divorce / Separation Lawyer

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   Answered February 19, 2012 15:39. Maryland is an equitable distribution state. This mean the Court can award you a monetary award based on the value of the business. You will need to hire a business valuation expert to determine value. Your attorney will know what to do and who to hire. Speak to an attorney for specific advice.

   The answer to this question is general in nature and does not create an attorney client relationship.

   • business valuation.

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4. 

   Steven Alan Fink

   Newport Beach Real Estate Attorney

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   Answered February 18, 2012 15:20. You are an owner of the business as is your wife. The fact that she is sole officer is irrelevant. An officer does not have to be an owner and an owner does not have to be an officer. Find a good family law attorney in your area and do not listen to her lawyer.

   The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The... moreThe response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of California. Responses are based solely on California law unless stated otherwise. less

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5. 

   Mary BrownPro

   Brooklyn Divorce / Separation Lawyer

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   Answered February 18, 2012 15:26. I agree with Mr. Lewis. Yes, of course you are entitled to something, maybe not half. Based upon the facts you've described, you would be entitled to some portion of the value of the business insofar as your wife's interest in it represents a "marital asset" even if you did nothing. The fact that you helped build the business over the years gives you an entitlement to more. Business valuations for purposes of distribution of marital property are NOT simple undertakings and you would do well to consult with a local attorney as soon as possible to help ensure that you get your fair share. Good luck!

   Ms. Brown may be reached at 718-878-6886 during regular business hours, or anytime by email at: marykatherinebrown@... moreMs. Brown may be reached at 718-878-6886 during regular business hours, or anytime by email at: marykatherinebrown@hotmail.com. All of Ms. Brown’s responses to questions posted on AVVO are intended as general information based upon the facts stated in the question, and are provided for educational purposes of the public, not any specific individual, and her response to the question above is not legal advice and it does not create an attorney-client relationship. Ms. Brown is licensed to practice law in New York. If you would like to obtain specific legal advice about this issue, you must contact an attorney who is licensed to practice law in your state. less

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