Property Division: Does She Get Half Of My Small Business?

Question:Colorado Divorce Attorney

Per our divorce property division agreement, my wife was to receive all the proceeds from the sale of the marital home while I retained my entire stake in my small business.

Because of the economy we made no money on the sale of the marital home, thus she received no income from the sale.

Now she claims she can force me to pay her half of the value of my small business to make up for her not receiving proceeds from the sale.

Can she do this?

Answer:

While I am not licensed to practice in your jurisdiction, I can provide you with some general divorce help for men regarding your property division question.

With regard to your ex-wife requesting half of the value of your small business, you will need to look to the specific wording of your divorce decree.

If the provisions of that agreement provide that she can ask for half of the value of the business, then it is possible that she may have a valid claim. However, if the agreement does not provide for this, then she may not have any right to the business.

Typically, such agreements include a certain amount of risk borne by the parties. The fact that the marital home did not sell exactly as anticipated does not necessarily guarantee her any right to now claim compensation for her “loss.”

From the information provided, it appears that she may not have a strong claim to the business, however, the specific wording of your divorce decree would need to be examined to ensure this.

Again, I am unable to provide you with legal advice on divorce and this should not be construed as an attorney-client relationship. Consult with a mens divorce attorney for financial advice on divorce and any further property division of small business questions.

To schedule an appointment with a Cordell & Cordell mens divorce lawyer, including Boulder Divorce Lawyer Maile Kobayashi, please contact Cordell & Cordell.

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