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Originally Posted by jgreidanus
URGENT!!! My husband just asked me to sign a line of credit on my home. (I have 1 day left to withdraw). He is creating an LLC with a partner in Nevada and we live in California. He has been cashing out our joint investments and putting them into this new business with another partner. My name is not on anything to do with this new LLC. By marriage in Ca, do I have any claim to the LLC in Nevada?
My worry, is that if there were a divorce, our joint assests are gone, I've put up my house and may have no claim to his LLC? What do you think? Am I receiving professional advice from a laywer? Thanks
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First, California is a "community property" state. That means that it is very hard for your husband to not share assets with you earned or developed in the marriage, if you guys file for a divorce.
Second, that said, divorces are nasty and many times one side or another hides assets, moves out of state and do a number of shady things to avoid paying their spouse. In my experience, divorces and business partner disputes are the ugliest forms of legal battles. This is because they always involve breaches of trust between people who are very close. In a regular business dispute, things come down to dollars and cents. If it costs $10,000 in litigation costs to recover $5000 from someone, you don’t do it. That is rarely the case in divorces. People act on emotions instead of rational thought. That’s why whenever divorces go to trial; the only people who win are the divorce lawyers!
Third, if you are seriously worried about this, your marriage is already in trouble. Like most legal matters, avoiding getting professional advice is always much more expensive then playing it safe. Talk to a lawyer, specifically a divorce lawyer to make sure your rights are protected and you feel comfortable with the situation.
Finally, no, this and any response you get from forums or blogs are not “legal advice” from lawyers. I, like many people that participate here answer questions because we want to help people, not to disseminate legal advice or to substitute people getting professional help. If you need that, and I suggest you do, see an attorney, in your case, an attorney specializing in divorce. Specialist attorneys, like most specialists in any area are the ones that you’ll get the most “bang for your buck.”
www.LegalMatch.com, the site that hosts this forum is a great way to find a specialist attorney that’s right for you. That’s why I prefer responding in the forum. Many attorneys who respond to cases through LegalMatch are specialists and most respond very quickly, giving you options to solve your problems. Alternatively, you can start dialing from a directory and hope to get an answer faster. In that case, focus on attorneys only advertising under “family law” or “divorce”. The last thing you want is to get advice from an attorney that doesn’t know much about what you are talking about!