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ExperiencedLawyer
ExperiencedLawyer, Solicitor
Category: Scots Law
Satisfied Customers: 311
Experience:  I have 14+ years of experience as a family lawyer, advising people on all kinds of relationship and family law issues.
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My husband inherited a business which is divided between him

Customer Question

My husband inherited a business which is divided between him and his two sisters. As his wife, what rights have I if my husband dies or we divorce. I have been investing a lot of my own personal money into this business.
Submitted: 3 years ago.
Category: Scots Law
Expert:  ExperiencedLawyer replied 3 years ago.
Hello,

My name is Mac. I can help you with your question.

You would not automatically have any rights specifically in relation to the business. However, your husband could leave you his shares in his will in the event of his death.

If you were to divorce, the value of his share of the business would form part of the total assets that would be divided between you (by agreement, or by the Court).

If you wanted to create a specific interest now, it would be prudent to have your financial contribution to the business recognised now - perhaps by way of a loan agreement, or in exchange for shares etc.

Regards,
Mac