[EyePod]

Originally Posted by Amnorix

So business owner has wife, has several sons with her. Gets divorced. Marries wife #2. Has one child, a daughter, with wife #2. Daughter never works in the biz.

Boys join the biz and help it grow ALOT. Idiot dad/owner doesn't do anything with stock except own 100% of it himself. He gets old, semi-retires, still owns 100% while the boys take over the show.

Wife decides she wants divorce. Now, they were married for a LONG time, but the daughter is an adult, and the wife is now like 80. She doesn't need much to survive for the rest of her life comfortably. Unfortunately, due to a total lack of planning and forethought by the father (and his sons) the wife is now entitled to own 50% of the company.

Ignoring the actual biz owner and his wife (let's face it, they're well off regardless of this whole process) -- the real upshot of this is that 50% of the value of the biz at the time of the divorce gets transferred -- really -- to the daughter, with the remaining 50% being split among the boys. Now the boys get the own the biz and can continue to grow it and earn from it, but that's a real ****ing over for them, especially since they are now PAYING the daughter for 50% of the growth that they massively contributed to creating.

Plan ahead kids. Use lawyers. Be smart.

Or you know, watch your kids sit on a spiked dildo because you're either too dumb or because you want to continue to exert power/control long after you should've given it to your kids.

I hate this shit - and I see it as a problem with the previous generation not willing to actually admit there's a problem that needs to be addressed in the first place. I'm sure there was the attitude of "we don't need that, we're all family!" but **** that - it needs to be all laid out even if it's only to make sure everyone is on the same page about what is going to happen.