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Spouse owns cash business what is my share

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L

Llombardo

Guest
hubby of almost 5 yrs owns cash business. Was worth 195,000 when we married. Recently bought a business, and moved his existing business. He paid 450,000 (all mortgaged out) with a partner. There is about 200,oo0 in new equipment, leased or mortgaged out. The property also has rentals on it that will bring in 24,000 a year.

Two questions, what am i entitled to with respect to the business, and without him taking a check weekly, just a cash ammount, how do i know i am being treated fairly with respect to the 25% I know i am entitled to with child support for my 2 children?

PLEASE HELP.
 


I AM ALWAYS LIABLE

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Llombardo:
hubby of almost 5 yrs owns cash business. Was worth 195,000 when we married. Recently bought a business, and moved his existing business. He paid 450,000 (all mortgaged out) with a partner. There is about 200,oo0 in new equipment, leased or mortgaged out. The property also has rentals on it that will bring in 24,000 a year.

Two questions, what am i entitled to with respect to the business, and without him taking a check weekly, just a cash ammount, how do i know i am being treated fairly with respect to the 25% I know i am entitled to with child support for my 2 children?

PLEASE HELP.
<HR></BLOCKQUOTE>

My response:

You and your attorney will have to hire an expert business evaluator, usually a CPA, with credentials to run an evaluation of the business.

IAAL



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