My brother is going through a divorce and has a lawn business he started 3 years ago. He is now going through a divorce and his wife is 50% owner on paper only. She never helped with the business, not one phone call or anything. Now she says the business is worth over $100,000 and she wants half, even though the business took a loss the past three years. Since her filing for divorce and kicked him out the business has grown to around profit of $15,000 this year. But this was after she filed for divorce. What is she entitled to and how much? Can anyone help us with this?
2007-03-19 15:03:29 · 4 answers · asked by chmabr2000 1 in Family & Relationships ➔ Marriage & Divorce
What the business is worth is basically the equipment cost less the depreciation. Your brother's hard work made the company worth anything and he must pay himself for the labor. I do not know what the equipment is worth - less the cost of the interest payments - but this divided by 2 is most likely what she is entitled to as far as assets in the marriage.
2007-03-19 15:10:55 · answer #1 · answered by Kerry Z 3 · 0⤊ 0⤋
A divorce is so difficult to go through and more so when there is a contest over the assets. I found out in my divorce the quickest and most painless method is to bite the bullet pay the greedy ***** off and never look back.
2007-03-19 15:19:59 · answer #2 · answered by theanswerman 2 · 0⤊ 0⤋
he needs a good lawyer; she gets 50 percent of the business
2007-03-19 15:11:02 · answer #3 · answered by abc 7 · 1⤊ 0⤋
I would say, she's only entitled to half of that $15K. The biz accnt should be the one to speak with.
2007-03-19 15:11:13 · answer #4 · answered by iyamacog 7 · 0⤊ 0⤋