Legal Question in Business Law in Ohio

partnerships

if a partner in a joint llc business gets a divorce does his spouse who has nothing to do with the business have any rights to the business


Asked on 8/02/08, 9:25 pm

1 Answer from Attorneys

J. Norman Stark J. Norman Stark , Attorney, Architect

Re: partnerships

Dear Inquirer: In any divorce proceeding, the Court, in its decree, may determine that the responding spouse (Defendant) may well be entitled to a portion of the reasonable value of any LLC, based upon that spouse's contribution to the startup, growth, and success of the LLP.

It should be the subject of a carefully negotiated divorce settlement, to avoid the complications of later claims, etc.

Experienced attorneys can (and should) advise and resolve this aspect of marital property early on. If not, consult capable legal counsel. (That's my two cents' opinion, without the benefit of all of the facts and details.)

Good luck!

Sincerely, J. Norman Stark

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Answered on 8/03/08, 10:18 am


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