Cincinnati, OH asked in Divorce, Criminal Law and Business Law for Ohio

Q: If your wife signs her company over to one of her affiliates for free then files divorce do you have legal recourse?

I helped my wife start a company and completely carried it financially from my wages. The company was in her name solely as an llc. We live in a communicative property state (Ohio). The company has recently got to where it has the connections and is begging to gain contracts and become profitable. I cashed out 100% of a retirement account, sold a herd of cattle, sold a farm, sold a t-shirt business and soaked every spare dollar of my income into building this business to the point I have destroyed my credit rating from late payments on numerous bills and the mortgage so the business would always have current payment history and build its credit. Two days ago I found out she was filing divorce. Two days ago I found out that five days ago she signed the business over to one of her affiliates at no charge. Do I have any legal recourse against her or the new owners?

2 Lawyer Answers

Joseph Jaap

Answered
  • Cincinnati, OH
  • Licensed in Ohio

A: Yes, you have legal recourse in a divorce. Marital assets are subject to division, including assets improperly transferred. Use the Find a Lawyer tab to retain a local divorce attorney who can review all the details and advise you of your options.

Dimitrios Makridis agrees with this answer

1 user found this answer helpful

Patrick DiChiro

Answered
  • Criminal Law Lawyer
  • Independence, OH

A: Of course. She has dissipated a marital asset. I would look into the transfer because it appears to be fraudulent and in anticipation of the divorce filing. I would also find a good lawyer to represent you and a good business appraiser in order to appraise the business.

Pat DiChiro

1 user found this answer helpful

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