Can my soon to be ex-wife claim monies from my new business venture?

Additional Information:

My wife and I have been separated for over a year. I am living with a new partner and considering starting my own business. Will she have any claim on the monies when we go through the divorce?

ATTORNEY ANSWER:

Any assets acquired during the marriage are subject to division regardless of separation. However, judges may use their discretion pursuant to the factors enumerated in Mass. Gen. Laws C 208 Sect. 34 in deciding how assets are to be divided. Your question refers to monies from your business. If you are referring to income instead of assets. The monies that your new business is earning reflects your earning capacity and earning potential and would be included in determining child support if children are involved. Your income from the business may also be used in calculating alimony if it is determined that your wife has a need for spousal support and that you have the ability to pay alimony.

Attorney Michael Franklin represents individuals in all family law and divorce  law related matters throughout the Worcester, Massachusetts and the Worcester County region including the cities and towns of Auburn, Boylston, Clinton, Charlton, Holden, Leominster, Leicester, Paxton, Shrewsbury, Sturbridge, Westborough, Northborough, Webster, Dudley, and Oxford, Massachusetts.

Attorney Michael Franklin
Worcester Family Law and Divorce Lawyer
5 State Street, Suite 1F
Worcester, MA 01609