VIC Divorce with Failing Business

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simonk

Member
24 August 2014
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0
1
Melbourne
If a man starts a business with his uncle while married, and the whole time the business is going (2 years) it makes no profit, is the wife entitled to anything from the business when they divorce?
 

AllForHer

Well-Known Member
23 July 2014
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682
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My initial thought is that she would be entitled to a portion of *your* stake in the business by its value, not its profit.

Can anyone else confirm?
 

Victoria S

Well-Known Member
9 April 2014
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58
2,289
I would agree that a court would look at the assets in their entirety to determine what is fair - and that would seem to be the value of the business. Have a look at the LawAnswers Family Law Forum thread "Property Settlement - Divorce" which links to information relevant to your question.
 

Sarah J

Well-Known Member
16 July 2014
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Melbourne, Victoria
Yes, the court would look at how much the business is worth (i.e. if you were to sell it at a particular time) and multiply this by your share in the company. This would be a rough estimate starting point.
 
K

Kimberly Dukes

Guest
When you started business with your uncle (father-in-Law) then did your Wife get any business share?