Does my wife own half my business?

Does my wife own half my business?

Your wife is probably entitled to the value of one-half of your interest in the business if you did not acquire the interest through inheritance or gift. A business interest is considered a marital asset just like any tangible property, and your wife is presumptively entitled to 50% of the interest’s value.

Can you lose your business in a divorce?

In most cases, the simple answer is “no.” That said, a business will likely be considered a marital asset that will be valued as part of the financial analysis in the divorce. Assets (less liabilities) owned by both or either spouse during the marriage are generally considered part of the marital estate.

Are business assets marital property?

When dividing property in family law, all assets and liabilities of each partner are combined to form the “matrimonial asset pool”. Measurements of a businesses value can vary, however in a Small Business, it is the assets of that business that will largely determine its value.