Divorce can be quite complicated when spouses are business partners or have an employer-employee relationship. Minnesota is an equitable distribution state, which means the court divides property in a manner it views to be fair and just, not necessarily 50-50. Here are two scenarios that illustrate the possible complexities.
The court must consider several factors when deciding whether a spouse has an ownership interest in another spouse’s business and how much that interest amounts to. In general, one should assume each spouse has an equity interest in a business owned during the marriage unless the couple specifically designed a prenuptial or postnuptial agreement stating otherwise.
These types of property division cases are always fact-specific, so the skill and experience of a divorce attorney are critical to the outcome. If you’d like additional information about equitable distribution and its effect on your family business, schedule a free consultation with our family law attorneys at Appelhof, Pfeifer & Hart, P.A.
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