1-877-797-9411
Embaucher un avocat
DC Logo F-no-tagline
DC Logo F-no-tagline

Money in business accounts

Anonymous Asked:

Most of our money is in two accounts that were created to receive income from my husband's consulting. He owns these companies, one being Canadian, the other in the UK. I am one of two directors in these two companies. No one else is involved. He transfers money periodically for household expenses by "paying dividends. I do not work, but am in school to gain a degree for teaching. I will be finished in August.
Will I be awarded 1/2 of the monies in these accounts if we were to separate?
Or are they locked away from me since the legal belong to the companies?
Thank you.

Expert Comment:

Subscribe
Notify of
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Stuart Zukerman
5 years ago

Generally, pre-marital assets will be excluded from division and awarded to the party who owned them on the date before marriage or cohabitation; however, growth in those assets from the date of marriage or cohabitation onward is presumptively to be divided 50/50. If the company was created during the marriage then you are entitled to half of the fair market value of the company regardless of whether you are a director or officer of the company.

Latest Questions Asked:

DC Icon

Simple Divorce

We have already settled support and property division so it is just a matter of getting a divorce. He wants to serve me with papers, or have me go to his lawyers since I am not protesting the divorce do I have to do anything and will it cost me money? ...

DC Icon

Is the 6 year rule for settlement of home and assets written in stone or can it be extended?

My husband and I have been separated for 6 years this coming August. Can I ask for an extension to the time limit or can it be extended at all? If my husband who has moved out and is living with someone else and has a home together will not agree on a ...

DC Icon

Mutual divorce

What is the process & conditions of mutual divorce in Toronto & how much time it takes ?

DC Icon

Stock calculation during a divorce

Hi there, I have a question about calculation of stocks during separation. for example prior to marriage I had 100 shares of company X with a value of $1000 ($10 per share). At time of separation I have 200 shares of stock X worth $8000 ($40 per share ...

DC Icon

Can I divorce my spouse who lives in another country

My partner and I are amicable in getting a divorce, nothing to negotiate, she resides in another country and is not planning to return to Ontario. I'm wondering if there is a possibility to file forms online, or must I send the paperwork overseas and h ...

DC Icon

Forcing my spouse back to work when we separate

My wife has been stay at home mom for over 9 years of a 17 year marriage. I've wanted her to go back to work but she has found every reason not to go back. We are nearing separation and my income alone won't support 3 kids and 2 homes. We go into debt ...

See All Questions
magnifiercrosschevron-down
1
0
Would love your thoughts, please comment.x
()
x