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Good evening. You handled this very well. Obviously, the 50% you owned prior to marriage belonged to you. Then, as you suspected, having the corporation purchase the shares rather than purchasing them yourself resulted in that 50% being retired and thus your 50% becoming a 100% share. As a result, the entire corporation remains your sole and separate property. Very nice! :)
I hope this has given you the guidance you were seeking. I wish you the best of luck!
The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
Ahhh....the plot thickens. Obviously the income is community property....absent a prenuptial agreement which I am presuming you did not have...and if you left the income in the company rather than distributing it, then your husband would have a claim to some portion of your corporation....it would be up to a forensic accountant to trace the income that remained in the company and determine what your husband might be entitled to. If you are still married, I would suggest that you do this now, and then do a partition agreement so that your partitioned portion would be the corporate portion.
My pleasure! :) No problem! I wish you the best of luck! I'll keep you in my prayers!
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