When parties get a divorce, they will need to address issues such as property division, child support, and spousal support where applicable. To resolve these issues, parties must provide full and accurate disclosure in their family law proceeding. The court knows that non-disclosure is an ongoing problem in many family law cases, so this obligation… Continue reading Higher Standard For Corporate Disclosure in Family Law Cases
Category: Business Professionals & Entrepreneurs
Corporate Share Bonus Equally Divided as Family Property
During a divorce, parties must either decide how to divide their assets or have a court decide for them. Various types of property can be considered family property. Some common family assets include the matrimonial home, other real estate, and corporate shares held by one or more of the parties. These assets can be very… Continue reading Corporate Share Bonus Equally Divided as Family Property
Business Investments Unequally Divided Due to Lack of Contribution
When parties get a divorce, they must divide their family property. Family property may include business investments that the parties held during the marriage. In some situations, one of the parties may have been more involved with managing the business investments during the marriage and acquired them before the marriage began. This is significant, as… Continue reading Business Investments Unequally Divided Due to Lack of Contribution
How to Value a Professional Practice for Property Division and Support
Doctors, lawyers, dentists, and other professionals may run their practice through a professional corporation. Upon a divorce, the value of this professional corporation may need to be divided as family property. Additionally, the salary received from the professional corporation and value of the professional corporation may be relevant for determining a payor’s Guideline income for… Continue reading How to Value a Professional Practice for Property Division and Support
Wife Entitled to Value of Business Sold After Separation
In some cases, parties may use the family funds towards investing in a business. This may include a combination of funds from each party. While going through divorce proceedings, one party may claim that some funds are exempt. For example, they may claim that part of the funds came from an inheritance which should not… Continue reading Wife Entitled to Value of Business Sold After Separation
Dividing High-Value Corporate Real Estate of Family Business in Divorce
Parties looking to get a divorce may have run a business together. After the breakdown of the marriage, the parties need to determine how to divide the property, including the business or businesses that operated during the marriage. This can be a complex issue after the business has grown significantly and its value has increased.… Continue reading Dividing High-Value Corporate Real Estate of Family Business in Divorce