Divorce with Business Assets - Legal Separation vs Divorce

[mmileto]

What is the name of your state? Colorado

I'm getting a divorce and have business assets. The wife keeps clearing out the accounts - basically stealing the money - including everything that's in the business account. She is majority owner but the trade is mine. She is an officer of the company but the business cannot continue without me. Her whole purpose of doing this is so that I cannot operate the business.

I moved the operating money to another account without her name on it. The business operating account only - not personal. She was able to impersonate me because she had all of my personal information and withdrawal from the account.

My Question: Isn't that fraudulent? And, once she filed for the legal separation doesn't that create an injunction on all assets?

Another question:

Why did she file for Legal Separation and not a divorce??? Can I still file and and have her served with a full divorce?

Thanks.

 

[mistoffolees]

What is the name of your state? Colorado

I'm getting a divorce and have business assets. The wife keeps clearing out the accounts - basically stealing the money - including everything that's in the business account. She is majority owner but the trade is mine. She is an officer of the company but the business cannot continue without me. Her whole purpose of doing this is so that I cannot operate the business.

I moved the operating money to another account without her name on it. The business operating account only - not personal. She was able to impersonate me because she had all of my personal information and withdrawal from the account.

My Question: Isn't that fraudulent? And, once she filed for the legal separation doesn't that create an injunction on all assets?

Another question:

Why did she file for Legal Separation and not a divorce??? Can I still file and and have her served with a full divorce?

Thanks.

This is a case where you'll definitely want to consult an attorney.

My gut reaction (not a legal opinion, though) is that you can and should file for divorce right away. That will give you some protection from her clearing the accounts. Until then, as the majority owner and officer of the company, you're going to have a hard time stopping her (although if it's a public company, the rules would be stricter and you might have a chance).

If you opened a separate account and she accessed it without your permission, that might be fraud. However, I would ask how you can legally open a separate account for the business in your name if she's the majority owner.

You need to make sure you're keeping track of everything you can (watch to see if any letters appear in the mail box from investment banks, for example) so you can recover as much as you can in the divorce.

Consider walking away from the business. If you're really the one driving it and the business can not operate without you, you might want to get your divorce and start your own business without her involvement. However, I wouldn't jump the gun on that. The business is probably worth more if you can gain ownership of it through the divorce process.