Divorce Future Business
Divorce - where does a self-emplyed/business owner stand? He has been running his Dad's business,?
as an electrician and they were married 20 years although she took nothing to do with the business and had no financial or other input.
Do half future earnings go to ex spouse or is it quanified in financial terms - i.e. she is seen in law as owning half etc - all very complicated so know there is no general rule just wondered roughly what the law would say.
Should say technically he is considered an employee as it is a limited company but essentially the business is his.
Thanks everyone
Unfortunately, it all depends on the ownership of the business. If it is still his father's business (his father's name is on the legal paperwork) and he essentially just runs it, she has absolutely no claim to it. If he is listed as the owner (his father signed it over to him), it is considered joint property. It doesn't matter if she had nothing to do with it, the courts will divide it. He will be forced to share it with her or buy her out, or she may sell her stake to someone else.
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