Legal Question in Family Law in Michigan

My wife and I started a business that failed using money she earned prior to the marriage. 4Years later she wants a divorce. Am I obligated to repay the money we lost?

Asked on 8/18/13, 5:42 pm

1 Answer from Attorneys

William Stern William Stern, P.C.

Assuming she dumped her money into the business and you were partners, that money would mot likely be deemed to be joint assets. You and she would be responsible for the losses of the business but since the money was co-mingled, it is doubtful that you would have to pay it back. It would have become joint funds.

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Answered on 8/19/13, 4:39 am

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