Divorce Llc Law
laws regarding divorce and buisnesses?
My brother is co-owner of an automotive repair shop...the business was set up as an LLC. He is now getting a divorce and his wife says she can take half of his share in the business....can anyone tell me the laws regarding divorce and LLC businesses?
If it is a community property state, she can indeed take half of his share of the business...and LLC is just like any other asset. The members of an LLC have an equity interest in the business just like shareholders in a corporation.
Of course, that doesn't mean she gets half of his control in the business...this is where it differs from a corp
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