Business and divorce


#1

If the LLC was started during the marriage, then the debts of the company are marital debts and you are both equally responsible for these debts. If you don’t have an attorney you should consult with one as soon as possible.

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax

Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044

Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#2

I was diagnosed with kidney cancer in May of 07. My wife decided that she wanted a divorce in July of 07, only days after the doctor released me to return to work 3-4 hours per day. She flew to Fla the first week of Oct with another man. I have to think that she was cheating. I will never know. Now her separation papers are outrageous. We started a small business in March of 06 and she wants completely off the LLC. She also wants the car that is paid for while I take the vehicle that still isn’t paid for. She told me she was thinking of leaving on the 13th of July and somehow moved into an apartment on the 14th. I was stranded. Our agreement was that she took care of us personally and I took the business finances and put them back into the business. I now have to live with my parents while she has a nice apartment. I decided the best thing to do is sell the LLC. We still owe a decent amount but her attorney told me that his client’s status as a member of the LLC does not render her personally liable for the debts of the LLC. Is this true? Sorry for the small novel. I just feel railroaded.