Divorced while owning a business, what happens?

[Grant]

Lets say you are getting divorced, and you own and run your own business. Lets say you co-own it, or maybe you full on own it. But your ex, wants to keep half of the business, or to take a cut of the business or something. How does one dispute their claim?

This is not happening to me by any means. But I was curious as a friend of mine ran a business with his wife, and they have since filed for divorce, but she wants half of his earnings from his business. They both started the company together, so it makes sense to split it. But what if it's a case of someone owning a business and it's owned and ran by one of person, but during the divorce they attempt to claim half of the business.

What happens in that case?

 

[Alisco]

In such cases,legal authority have to be involved for justice and providing a proper solution. If not involving legal bodies then spiritual father's role come to place for justification based on religious law.

 

[Genie011]

Divorce does not automatically exempt one from conducting business.
If the level of separation is wide one might file for split in the business though and it's legal.

 

[eenya001]

that is why i do not advise people to open business with their spouse because at this age and time the rate of divorce is alarmingly very high except you have proper legal documentation.

 

[Emmy]

If they both have an investment in business therefore it is the right of the man to give out her portion after divorce but on a norms, divorce is not a good thing so it is advisable for someone to check thoroughly before getting married because there are business and earnings that have lost as a result of divorce.

 

[Good-Person]

If they both have an investment in business therefore it is the right of the man to give out her portion after divorce but on a norms, divorce is not a good thing so it is advisable for someone to check thoroughly before getting married because there are business and earnings that have lost as a result of divorce.

I think that this depends on the divorce laws in many countries, as such kind of laws might be different. It all depends on the circumstances of the business and who owns it.

 

[eenya001]

I think that this depends on the divorce laws in many countries, as such kind of laws might be different. It all depends on the circumstances of the business and who owns it.

Different countries would definitely have different laws as pertaining to divorce and some countries law might be more strict or very complex rather than some other countries law.

 

[Alisco]

Divorce does not automatically exempt one from conducting business.
If the level of separation is wide one might file for split in the business though and it's legal.

Exactly, business partnership can be dis- partnered legally but divorced can't separate business partnership it only have to do with marital affairs and not business affairs.

 

[Shaffy]

that is why i do not advise people to open business with their spouse because at this age and time the rate of divorce is alarmingly very high except you have proper legal documentation.

Proper documentation is key, even for household items you purchase together. Some spouses who are well mannered become toxic when divorce comes up.

 

[Agbalagbaa]

There is a legal provision for that and I think it would be great to first of all amicably discuss how to split the business and if it is not possible, take the legal side.

 

[Ernestnari]

As a business person, I can never contract a marriage without first of all signing a pre nuptial agreement that would define how things would go in case of divorce.

 

[Fladey]

I think its more optimal to seek guidance from a legal practitioner concerning you having part ownership. If you were having part ownership, you could reason with the court that you have more contributions to the business than your partner and would be better off running it alone.

 

[Jonaville1]

Lets say you are getting divorced, and you own and run your own business. Lets say you co-own it, or maybe you full on own it. But your ex, wants to keep half of the business, or to take a cut of the business or something. How does one dispute their claim?

This is not happening to me by any means. But I was curious as a friend of mine ran a business with his wife, and they have since filed for divorce, but she wants half of his earnings from his business. They both started the company together, so it makes sense to split it. But what if it's a case of someone owning a business and it's owned and ran by one of person, but during the divorce they attempt to claim half of the business.

What happens in that case?

I think the business will still have to continue because there is difference between the business and their marriage so there is a way that they can continue the business like how some other people do

 

[Shigobad20201]

That's a really bad experience because it depends on who owns the business on the paper and thats why its very important to register your business no matter what , the business is to be shared between the spouse .
That's a really bad experience because it depends on who owns the business on the paper and thats why its very important to register your business no matter what , the business is to be shared between the spouse .

 

[eLdavis]

I believe the best thing to do at this point in time is to go to court and sort it out by the law. If the two partners own the business together, then the court has to look for or offer a solution on how the business should be shared.

 

[hastral45]

The rights to have portion of the business during the course of divorce depends on the terms and conditions stated in the business agreement.
If it were one man business that's jointly owned, it is left for the court to decide.

 

[AruneBend]

I don't think that if you separate it changes bussness it's your personal life that's why I don't recommend ruining a business with somebody because it can course many troubles in this case you might need court

 

[Ernestnari]

Divorce can have such a huge impact on a business. Any which way you turn, the business is not insulated. Joint businesses would be sold and the proceeds divided while sole proprietorship by one couple would be affected in the divorce settlement.

 

[Trey]

That is why I can never marry without a pre nuptial agreement signed. That is because it would define how our assets would he handled on case of a divorce. We would have to co manage the business of we jointly own the business.

 

[Heatman]

Lets say you are getting divorced, and you own and run your own business. Lets say you co-own it, or maybe you full on own it. But your ex, wants to keep half of the business, or to take a cut of the business or something. How does one dispute their claim?

This is not happening to me by any means. But I was curious as a friend of mine ran a business with his wife, and they have since filed for divorce, but she wants half of his earnings from his business. They both started the company together, so it makes sense to split it. But what if it's a case of someone owning a business and it's owned and ran by one of person, but during the divorce they attempt to claim half of the business.

What happens in that case?

I believe that if you people are married there is a law that supports that the person will get half of whatever you own unless you people sign the pre-nup before you got married. This is the reason why a lot of people are very sceptical when it comes to divorcing in their partner.