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wife and are are not legally separated or divorced. we ...

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wife and are are not legally separated or divorced. we used community corporation funds to pay for a law suit she had going while we were and are currently married. Law suit was settled out of court and check came in her name since it was her lawsuit. she put $$$ in seperate account in her name and refuses to reimburse joint corporation funds for $$ spent to get to the settlement and claims that the entire settlement is hers. If we were to be / get legally separated or divorced filed would those monies from the settlement be considered joint monies regardless of whose bank account it is put in???
Submitted: 6 years ago.
Category: Business Law
Expert:  Marcus Parker replied 6 years ago.
What do you mean by "community corporation funds" and "joint corporation funds"? Were these funds belonging to a corporation the two of you own?
Customer: replied 6 years ago.
Reply to XXXXX XXXXX's Post: yes $$$ came from our corporation funds to pay legal fees. we own the corporation 50 / 50 and we are currently still married and sharing all comunity bills and monies. We just reside in separate households. She recieved a settlement and I was under the impression that she would reimburse our corporation all $$$ spent to get to the point of settlement and now she is saying that the entire settlement is hers sole and separate??? If we get legaly separated I feel that she would need to reimburse the funds used from our corporation and then should split the left over 50 /50 . We are in Ca. if that makes any difference??

thanks
Expert:  Marcus Parker replied 6 years ago.

Except for the fact that the corporation cannot take action if either of you disagree, the corporation could sue her for the money spent for her personal expenses of litigation. It is possible that you could bring a derivative action against her.

Since you are in a community property state, your assessment ("If we get legaly separated I feel that she would need to reimburse the funds used from our corporation and then should split the left over 50 /50 .") is entirely correct.

 

 

 

 

 

 

Marcus Parker, Attorney
Category: Business Law
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Experience: Experienced in corporations, LLC, partnerships, etc., formation and operation
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Customer: replied 6 years ago.
So should she file for a legal seperation I would have a valid claim to 50% of the $$$$ she has in the separate account from the settlement she recieved prior to being legaly separated from me?
Expert:  Marcus Parker replied 6 years ago.

Yes, it seems that way.

Customer: replied 6 years ago.
and if she spends any of that $$$ on real estate or other tangible items and we did get separated legally or divorced I would have claim to 50% ?? that is my last part of the question
Expert:  Marcus Parker replied 6 years ago.

Yes. That is how community property is supposed to work.

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Marcus Parker
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