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alisk2 | Its a pizza place c-corporation business i have 50% share holder my partner have 50% too.. i? |
I'm getting divorced CAN my wife take my shares? my partner is scared to death for that need help thank you |
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Feeling Mutual
 |
In most cases your wife is entitled to 1/2 of your assets.
You should speak with a divorce attorney, as this is a divorce property issue and has little to do with corporate law.
Since it is a corporation, ownership is in shares of stock, and you own half the outstanding shares. Depending on the divorce settlement, she may get none, half, and sometimes even all the shares.
The old joke about it is:
She gets the car, I get the car payments.
She gets the house, I get the house payments.
She gets the elevator, I get the shaft. |
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Meklar
 |
If your wife gets a better lawyer than you, she can probably take the shares, your bank account, all your assets and maybe even the clothes off your back. You need to make sure you can get yourself a lawyer who can demonstrate that you're the one who earned and legally/morally deserve the shares. |
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Homeslice
|
Any court is going to see through a scheme to transfer your shares to your partner. Most likely your wife is going to be awarded 50% of the value of your shares, but I doubt the court would actually give her your shares. That means you will have to value the business and pay her some cash. She will also most likely be awarded some time of annual income based on your share of the company's profit.
Do you and your partner have a shareholder agreement? You should have one that restricts the transfer of the shares. This way, if either you or your partner decide to get out of the business, the other partner will either have right of first refusal to buy the others shares or will have the right to approve their future partner.
Good luck! |
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fire_music_bk
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I believe she can or you can buy them from her. You need to check with an attonery the soon the better. If worse comes to worse... and you trust your partner... Put all shares in his name until after the divorce. |
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KC
 |
It depends on a lot of things... Such as the laws of your State, and another is when you got your half of the restaurant. Was it before your marriage or after.
I don't know if you can legally do this but Look into selling your partner your shares for $1; that way she can only get 50 cents, and then buy them back after its finalized. It would require a lot of trust in your partner, but then if you didn't trust him you wouldn't be in business together. |
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