Charlotte, NC asked in Family Law, Business Law and Divorce for North Carolina

Q: My husband started a business 5 months before we separated.

He used marital funds to purchase equipment for the business, and I have copies of the checks verifying that. On the financial affidavit, he claims that the business started after separation and he used his own money. Can I use the checks to verify that his business started before separation? Is this business considered marital property and required to be divided in equitable distribution?

1 Lawyer Answer
Mr. Albert Loch Saslow
Mr. Albert Loch Saslow
  • Greensboro, NC
  • Licensed in North Carolina

A: Seems like the answer could depend on when the business entity (if there is one) was actually formed. If it wasn't formed (created) with the Secretary of State until after you separated, then there is an argument that the business wasn't marital. However, if that is the case, then you make the counter argument that the specific items of property, not the business itself, are marital property and subject to division.

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