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Joined: Jul 2004
Posts: 782
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Joined: Jul 2004
Posts: 782 |
I'm in a no-fault state with equitable distribution...which could be a good thing...
I left my job of 19 years to open this business with WH who has been in this type of business for 30+ years but not as an owner. If we divorce I won't have a job or make the $$ I'm now making that's for sure,
How would they split a very profitable business up? If I got a large settlement would I lose my alimoney?
I don't want a divorce but I feel that eventually that's what's gonna happen..He won't put any effort into giving up his OP's....
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Joined: Feb 2002
Posts: 4,199
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Joined: Feb 2002
Posts: 4,199 |
Too many unknowns to answer in great detail.
First, they would attempt to value the business. This can be very expensive, however it can be a negotiating point. In most cases, one spouse wants to keep the business, so they will trade for it - either by giving away the house, or the alimony or something else. Joint value only begins as of the marriage date. Any assets held before aren't included - nor are inheritances which have not been combined.
You likely have a track record of what you can earn based on what you've earned in the past. Establishing a potential salary can begin with your past salary if you can't work in your current job. This is also negotiable.
Good Luck.
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