ForumsHome Based Business

Up to All Forums

This Question is Possibly Answered

1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)
Post a new topic
2 Replies Last post: Jul 12, 2008 12:44 PM by Lighthouse24

LLC OPERATING AGREEMENT

Jul 12, 2008 7:53 AM

Click to view raboliot's profile Start-up raboliot 2 posts since
Jun 23, 2008

The operating agreement of my LLC stipulates that I am the single owner of the company.
But when I filed my tax return, following the advise of my accountant, I listed myself as 50% owner and my wife as 50% owner. To avoid audits...
Now in the middle of an ugly divorce...My wife is claiming 50 % of the company...

Does she have any rights?

Tags: legal_question, llc, operating, agreement Report as inappropriate
Click to view LUCKIEST's profile SCORE LUCKIEST 8,127 posts since
Aug 6, 2007
1. Re: LLC OPERATING AGREEMENT Jul 12, 2008 11:19 AM
LLC OPERATING AGREEMENT (Do not want to get in the middle)

Talk to your Lawyer
Report as inappropriate
Click to view Lighthouse24's profile Founders Lighthouse24 2,402 posts since
Oct 10, 2007
2. Re: LLC OPERATING AGREEMENT Jul 12, 2008 12:44 PM
Yes, usually (especially if you founded and built the business after you were married, although laws vary by state). As Luckiest advised, it's a matter for an attorney. Not to be insensitive, but chances are, her potential half of the business is just being used currency -- a "negotiating chip" in the settlement. A wise attorney can help you assess what that chip is worth to you, and give you some strategies for how to play the cards you're holding. Good luck.
Report as inappropriate

More Like This

Most Recent Forum Posts

Making people buy what you offer - how to?
4 minutes ago

Starting a C-Corp with a Foreign National
30 minutes ago

Good advertising blogs?
49 minutes ago

Non profit investor advice
1 hour ago

Legend

  • Open Question
  • Answered Question
  • New content since your last visit
  • Updated content since your last visit
  • Content you have read