My husband and I started an S corp, and now he wants to start an LLC, but he says that my name doesn’t go on it since we are married. Is this true?

Get Legal Help Today

 Secured with SHA-256 Encryption

My husband and I started an S corp, and now he wants to start an LLC, but he says that my name doesn’t go on it since we are married. Is this true?

My husband wants to have his brother on the LLC. I’m worried that if something happens to my husband, that his brother will take all of our vehicles, which is what will be in the LLC. My husband said not to worry since we’re married. We live in CA, but the LLC is out of TX. Our S corp is in NV. My husband is self employed. I do bookkeeping for the S corp and get paid. Of course, I also want to know what would happen if we got divorced (probably won’t happen, but you never know!)?

Asked on June 2, 2009 under Business Law, California

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

This is very complicated.  As i understand, there are 2 companies.  1 LLC and an S-Corp.  You are concerned about the LLC becasue the vehicles will be in that entities name.  To make this simple, should something happen to your husband, you will survive him and step into his shoes.  Where you live is not an issue.  Therefore, you do not have to worry about the brother taking the vehicles as you will have the right to have a say in your husband's absence.  As for the divorce, it wont matter as the court will evaluate his assets and generally try to equitably divide them to keep you in the same/similar economic position as you were.  He will have to pay alimony to you.  I hope this helps make you feel better.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption