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: Rhode Island Divorce TipsA Rhode Island Lawyer's Story about a Business in an RI Divorce Case.
By Christopher Pearsall
Tom has a small label-making business that makes about $24,000 a year working on the weekends. He has been in business for about 6 years but hasn't been able to increase the revenues from the business above $24,000 a year. Tom meets Phoebe but after three (3) years Tom realizes it was a mistake and he files for divorce.
They didn't have any children and both Tom and Phoebe have jobs that make them roughly $45,000 each.
Phoebe didn't work in Tom's business and didn't contribute to it financially during their marriage so Tom says she's not entitled to any part of the business, especially since it is in the same position it was before they even met.
Phoebe agrees. They try to put through their divorce on their own. The Final Judgment of Divorce is entered and says in Paragraph 7,
7. Phoebe does not have any interest in Tom's business which existed before this marriage.
Tom and Phoebe figure they are finally divorced and everything is done and over with.
Six months later Phoebe loses her job and has no money. Phoebe's mother sends her to an attorney friend of hers and Phoebe learns that she probably was entitled to a portion of Tom's business prior to the entry of the Final Judgment of Divorce.
The Rhode Island attorney explains that she still may be entitled to a portion of Tom's business even now but it will be much harder and much more costly to pursue.
The Rhode Island attorney asks why she didn't just get a divorce attorney to represent her in the divorce proceeding because this most likely would have been caught then.
Full post as published by Rhode Island Divorce Tips on March 20, 2008 (boomark / email).
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