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Question from greentop1234Nov-7
a friend entered a second marriage twenty years ago - it was a second marriage for both individuals, each with children from a previous marriage. After the couple married, the husband started and built a successful business and acquired several rental properties that all bring in a significant income. The properties were purchased under the business name. The husband's children are listed as co-owners of the business and it is registered as an LLC. At the time of the marriage, the husband was completely unemployed, owned one multi-family home in which he resided and held ownership in the family home of his first wife and children (which has been subsequently sold in accordance with the divorce agreement). The husband has acquired significant wealth over the course of the marriage and believes that he has secured that wealth from his second wife by purchasing the real property assets under his business LLC. Is this how an LLC works? In the event of divorce, is the wife entitled to any of the assets the husband acquired during their marriage but under his business name? She is not listed on the business, there is no premarital agreement, the home in which they live is her personal property obtained prior to the marriage - his name was never added to the deed. Funds from the income properties and his business would have contributed (minimally) to the maintenance of the residence. this is in the state of Connecticut. Any input would be appreciated. Thank you.
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