I live in California and I am the 100% owner of an Oregon S-Corp. Would this be considered community property in a divorce where my wife and I were married for 25 years? The business was created 12 years ago and she has worked as the bookkeeper for 8 years.
Answer
Based on the facts you have given - the company was started with community funds during the marriage - that is community property. When someone comes into my office, I ask many more questions to see if there is anything that could change that presumption, but that is a much longer conversation than we can do here. I am not sure why you mention that your wife worked there, other than maybe you thought that if she worked there she would earn more of a stake in the business, but she could not have worked there at all and it would still be community property. It doesn't matter whose name everything is in, it matters how it was acquired.
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