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Can my wife fire me as CEO?

Can my wife fire me as CEO?

Shortly after marrying 16 years ago, I started a tech company. It has grown, and we currently have 85 employees. I serve as CEO, and take a salary. I own about 80 percent of the company. My question is, if I divorce my wife, will she own part of the company, and if so, can she fire me as CEO?

It depends on how your company is structured. Does your wife have an equity ownership interest, or is the remaining 20% owned by a third party? If you and not your wife holds equity, then the company will remain yours. A valuation of your company will be necessary to determine its fair market value, and your proportionate share of its net worth. Your wife will be entitled to share in your interest. Depending on various factors, she might or might not be entitled to 50% of your interest. Once a dollar value is established, you could buy your wife out of her share. This can be accomplished by offsetting the value of other marital assets or a cash payment.

If your wife also holds an equity interest, a determination would have to be made as to whether you both want to remain in the company, or whether one of you will buy the other out, or place your combined interests for sale to a third party.

Division of Financial Portfolio

Division of Financial Portfolio

When my wife and I married in 2009, my financial portfolio was worth about $11 million. I am planning to file for divorce, and my portfolio is now worth $23 million. How much of that can my wife reach? What about stocks that I owned before we got married that have increased in value?

The $11 million is considered your separate property. Assuming that you didn’t put your wife’s name on your portfolio, she is entitled to share in the increase in value from the time of your marriage until the date of your divorce. Thus, your wife has a claim on part of the $12 million increase. The amount to which she is entitled depends on several things, such as the length of your marriage and her contribution to your marriage.
If you put your wife’s name on your portfolio, you have “gifted” the $11 million to the marital estate. In that case, your wife has a claim on part of the entire $23 million.
Same analysis regarding your stock porfolio.

Husband’s Child Support for Child Outside of Wedlock

Husband’s Child Support for Child Outside of Wedlock

My husband had a child outside of our marriage while we were on a split, “Filing for divorce”. We would like to stay married and have a child of our own. How will his child support be determined? I make more income than he does, will that be factored into the support he owes? What if he falls behind, could she come after me to pay? We live in Colorado. Thank you.

Your income does not factor into the equation. Only your husband’s income is considered, and he will be given a credit for the child that you have together. If your husband falls behind in child support, the mother of the child could garnish his wages or bank accounts, or lien the house.
If your husband’s name is on any bank, investment, or financial account or asset including the house, even if it is jointly titled, it can be attached.
The only accounts or assets which could not be attached are if those accounts or assets are in your name only.

File for Emancipation to Stop Support?

File for Emancipation to Stop Support?

Hi, I got divorced in 2000 and my child support order states that when my daughter turns 19, I do not have to pay any longer. Do I need to file for emancipation or anything with the court to stop paying child support? Also, my ex-wife states I have to pay for college for my daughter, when in fact I know Colorado state law states I do not unless we have a signed agreement with the court and a judge has signed. Am I right about this?

Unless you have younger children for whom you are providing support, child support automatically ends on your daughter’s 19th birthday. If you have other kids, you will need to modify the child support.
You are correct. Unless you agreed in writing that you have to pay for college, you are not obligated.

No Income and Child Support

No Income and Child Support

We were married in 1976 and had kids in 1980 and 1985. We divorced in 1994. I moved around, got married again, moved, divorced again, and moved. Now a Colorado Court ordered me to pay $87 a month for $23,000 due. I recently Heart Attack on 6/6/15, which caused me to have no income. Do I have a chance to get it dropped?

Child support becomes a money judgment at the time it is due. Since you owe $23,000 in past due child support, the judgment stands.
If you truly have absolutely NO INCOME, you should contact child support enforcement or your ex-wife’s attorney, or whoever is pursuing the judgment, and advise them.
However, if you have ANY money available to you and you are not paying anything towards your arrearage, your ex-wife could file a contempt action against you and amongst other things, ask for jail time.
Therefore, you need to pay something, even if it is $10/mo. This shows the Court that you are not trying to shirk your obligation and are making a good faith effort to comply with the Court Order, despite your circumstances.
Assuming you have no income nor assets, and do not have the present ability to pay anything, there is not much they can do to you.