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business division in colorado divorce

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K

kaceyco

Guest
I am in CO. We recently opened a small business but I think maybe my husband left me off all the official papers. If he does leave me, am I entitled to half the business or am I out of luck?
 


C

cyana

Guest
kaceyco said:
I am in CO. We recently opened a small business but I think maybe my husband left me off all the official papers. If he does leave me, am I entitled to half the business or am I out of luck?
I think it depends on how CO regards the business as a "marital asset". I'm in DE and my ex's and my "small, incorporated business" was definitely regarded as a marital asset because it was "purchased" (though we did have a promissory note with the original owner of the assets) with marital, not separate funds (gift or inheritance). I was not on the "official papers" either. I would guess that since CO is an "equitable division" state like DE you would be entitled to a percentage of the business assets unless you an exchange for an asset of "like" (equivalent) value. For example, you might agree to give up your share of the "business assets" in exchange for having your mortage paid off or something like that.

Hope my experience helps.
 

JETX

Senior Member
Since Colorado is NOT a community property state, you have no 'inherent' right to half of the business (nor he to yours). Any distribution of assets will be determined by the parties involved and the courts approval.
 

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