If I’m starting a business that will be an LLC and I then get a divorced, does my spouse have a right to a percentage of the business?

Or to get funds that were used to start the business? I am the managing member and there are now other members.

Asked on September 21, 2014 under Family Law, Nevada

Answers:

Arkady Bukh / Bukh Law Firm, P.C.

Answered 5 years ago | Contributor

Unless you find a sort of mutually satisfactory agreement, the Court will decide whether your business is a "separate property" or "marital property". Based on this determination, if the company is a marital estate, it will be divided just like anything else. Read more about division of corporate assets.

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Generally speaking, if the business was started during the marriage then it is a marital asset for distribution in a divorce action.  If you are thinking of getting a divorce I would speak with an attorney about the impact it would have on the business. 


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