How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Sean Your Own Question

Sean
Sean, Experienced lawyer
Category: Australia Law
Satisfied Customers: 852
Experience:  Law degree with 1st class honours from Australian National University.
70453545
Type Your Australia Law Question Here...
Sean is online now
A new question is answered every 9 seconds

I have started a bussiness with my brother inlaw 2 months ago

Resolved Question:

I have started a bussiness with my brother inlaw 2 months ago and in that time he as split up with his wife. Is she Entitled to 50% of his 50% of both money and assets going foward.
Thanks Rod.
Submitted: 1 year ago.
Category: Australia Law
Expert:  Sean replied 1 year ago.


Hi Rod, can you tell me the legal structure you have for the business - is it through a company or do you have a partnership?

Customer: replied 1 year ago.


Yes both are set up as a Pty Ltd Company the asset part and the running company . The asset company has all the trucks drills etc and running Company leases them back for tax resons.

Expert:  Sean replied 1 year ago.

OK thanks. So she won't be entitled to 50% of his 50% share of the companies. What will happen is all of their assets will go into a theoretical pool, and the court will decide how the total pool of assets is divided. Under your companies' constitutions, he would not be able to give her a part share of his shares, or transfer his shares to her, without your consent. The court will take this into account when dividing up the assets and take into account that the share in your companies will most likely need to stay with your brother-in-law, so other assets will need to go to her. It's not like they are shares in a public company that can be easily transferred - shares in a private company like this cannot easily be transferred without the consent of the other shareholder. So this will be taken into account, and the wife will not get any of the shares in your company unless you consent.

Customer: replied 1 year ago.
Would she be entitled to any future profit
Expert:  Sean replied 1 year ago.

No. Only shareholders are entitled to profit, and unless you consent to her becoming a shareholder that won't happen.

Sean, Experienced lawyer
Category: Australia Law
Satisfied Customers: 852
Experience: Law degree with 1st class honours from Australian National University.
Sean and other Australia Law Specialists are ready to help you
Expert:  Sean replied 1 year ago.

Good evening.

I'm checking in to see if you need any more help with your situation. If you do, please let me know and I would be happy to answer any further questions you have. If not, I would appreciate if you could positively rate my answer. I only get paid for my work in answering your question if you leave positive feedback. Thank you.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • Deborah Awyzio

    Solicitor

    Satisfied Customers:

    859
    Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
< Last | Next >
  • http://ww2.justanswer.com/uploads/DA/dawyzio/2011-8-17_41631_Debheadshotfromfrontdesk.64x64.jpg Deborah Awyzio's Avatar

    Deborah Awyzio

    Solicitor

    Satisfied Customers:

    859
    Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
  • http://ww2.justanswer.com/uploads/AU/AustralianLawyer/2012-8-24_122120_SeanPhoto.64x64.jpg Sean's Avatar

    Sean

    Experienced lawyer

    Satisfied Customers:

    837
    Law degree with 1st class honours from Australian National University.
  • http://ww2.justanswer.com/uploads/SE/section52/2011-3-4_91720_darrenkrusehs.64x64.jpg Darren Kruse's Avatar

    Darren Kruse

    Solicitor

    Satisfied Customers:

    16
    Practising in in Personal Injury, Workcover, Civil Disputes, Family, Wills and Estates and Criminal law.
  • http://ww2.justanswer.com/uploads/BR/Brisbane.Lawyer/2013-10-15_65512_ProfilePhoto.64x64.jpg Brisbane.Lawyer's Avatar

    Brisbane.Lawyer

    Solicitor

    Satisfied Customers:

    105
    Lawyer of the Federal and High Courts of Australia; Lawyer of the Supreme Court of Qld
  • http://ww2.justanswer.com/uploads/MB/mbb75/Kylie at Makdap 500x500 pixels.64x64.jpg kmslegalservice's Avatar

    kmslegalservice

    Solicitor

    Satisfied Customers:

    18
    I have 14 years legal experience behind me and I graduated from the University of Sydney with First Class Honours in Arts/Law.
  • /img/opt/shirt.png Patrick H.'s Avatar

    Patrick H.

    Lawyer

    Satisfied Customers:

    4168
    Dip Law LPAB - Sydney based lawyer
 
 
 
Chat Now With A Solicitor
Sean
Sean
Solicitor
852 Satisfied Customers
Law degree with 1st class honours from Australian National University.