Q: Im 49% shareholder/co-founder of an Australian pty ltd startup company. What happens to my shares if I file for divorce?
-My wife has no involvement/stake in the company at all.
-What method of company valuation should be used if there are only expenses so far and no income from business?
-I have not used a single cent of marital funds for the business.
-After the settlement, will my spouse have any rights to future profits/dividends/income from the business?
-How can I protect my stake in the company from my spouse? (there is no prenup and I have already filed for divorce)
-I'm in Massachusetts and work on the startup with my Australian co-founder who is 51% shareholder.
A: You should promptly meet with a divorce practitioner to discuss the length of the marriage, ages of the parties, income of the parties, ability to acquire future capital, etc. which are among the factors for property division determination. If there has been no financial investment from the marital estate , but you are performing services or deferring income, e.g., you still need to address this issue in property division and perhaps also alimony.
Anthony C. Adamopoulos agrees with this answer
A: I agree with Lillian.
Having filed the divorce without the necessary prep work, which is obvious from your question, is a negative you must overcome with the advice of experienced counsel.
Keep in mind the basis of all property division is that All property owned by any spouse is part of the marital property and it is to be divided fairly. See Lillian's answer for what is considered in deciding what is fair.
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