Business Interest


#1

I found somewhere on the web, where an insurance agent, ie nationwide/state farm, (The company actually owns the book of business ). but the court of appeals decided that the agency was or was not marital property… Can you help me find that ruling.?


#2

You may be thinking of Hamby vs Hamby but there was a pretrial agreement where the agent recognized the book of business as a premarital asset (prob not smart) and the argument was over valuation. A 50/50 split is obviously not fair as the agent spouse has to actually work the book as a means to earn a living.


#3

so I am married to a state farm agent, SF owns the book of busienss, I ran his business for 16 yrs for no pay … Am I entitled to business interest in this agency


#4

I was thinking from the context of most agencys… you are right state farm owned by them. I have a state farm agent that is going through a divorce now and its still unsettled. It looks like they will get to keep it without compensating spouse much of anything. They are going on 15 months now, pending court case.


#5

What about defered compensation. Am I entitled to some of it?