My husband and I own a 50/50 S Corporation and have had the business for 8 years. We are currently seperated and situation has become very difficult to work there al day with him. I decided to work from home to prevent any altercations. With this said, he has taken over my desk, changed password to computer and database system, is withholding sales and monies. This is my only means of income, being that I am also a mom of 3 and handle everything with the children. This cannot be right and what can I do about this?
Answer
You need to confront your husband and tell him that if you divorce, the business will go down the drain, unless you and he come to an agreement that you may work at home, he will ensure that you are not locked-out of any computers, e-files, emails, correspondence, etc.
If he does not agree, you need to file for divorce. Your divorce lawyer should be knowledgeable about derivative suits, where one shareholder sues another shareholder or the company. You need to ensure that your share of the company is paid to you, because he has "ousted" you from the firm.
You should immediately consult an attorney. I would charge the consultation to the company because you are 1/2 owner.
If you stay with husband or ex who remains your business partner, prepare a shareholders agreement which outlines what happens in situations where your fellow shareholder acts more like an ass than a man.
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