LEGAL GUIDE
Written by attorney Bill Whittaker | May 8, 2018

WHAT HAPPENS TO MY BUSINESS IF I SEPARATE FROM MY SPOUSE?

Marital property is property that was obtained or accumulated during marriage through marital effort or income. If you started a business after your marriage, the business is marital property. Mixed property is both separate and marital. If you started a business before marriage, the increase in value due to business efforts during the marriage is marital property. If you separate from your spouse, the marital value of the business will be calculated into the division of property and debt…equitable distribution. Yikes!

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