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Business shares before Marriage

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  • Business shares before Marriage

    Hi there, I had ownership in my fathers company before our 9 year marriage. I have never worked for the company, nor received a penny from it. It's value is worth a third of what it was at marriage. The company does not operate and the accountant is to dissolve it in the next few months. My share is approx $13,000.00.

    Is this a 50-50 Split? or does it stay with me? Thanks!!

  • #2
    net property statement

    Assets are not split one by one. The whole picture is examined. You must fill out a net property evaluation work sheet. It examines your and ex's assets on the date of marriage and on the date of separation and the increase is divided in two. However, assuming all things are equal your ex will get half your increase in the business.

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    • #3
      Well, This was listed in a separation agreement that is being contested.

      We did the separation agreement thing with different lawyers, but now Ex's lawyer says it's that it's void because of no financial disclosure. A year and a half later.

      The separation agreement does list all the assets and debts, but some some unknown reason, her old lawyer and my lawyer didn't have us fill out the Full disclosure forms that by reading this forum, I am now aware of. lol man Im learning a lot. It appears that we have to start from scratch

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