Uncontested Divorce of Self-Employed Persons
Even though it is an uncontested divorce, complications are bound to come up in such divorces. The biggest complications that arise for divorce of self- employed people are their finances where income is not a regular or standard amount, so deciding on how to settle all financial issues becomes very difficult.
Here is some advice that lawyers give when trying to sort out financial matters in an uncontested divorce. It is not much different from a contested divorce.
Ask for all financial documents
You should ask your self-employed spouse for documents that detail their income and expenditure. If they are into any business ask for an evaluation record of their business. Ask to have a look at their expenses, profit and loss statements, and the ledgers. If you are a part of the same business you will have a rough idea of the income of your spouse. But if it is a large and complex business it can become quite complicated for you to understand every little detail.
Seek the help of an accountant
If your spouse runs a huge business you should seek the help of a professional accountant who has experience in dealing with calculations related to family law. The accountant would be able to calculate the exact income of your self employed spouse. Just because you hire the help of an accountant and ask to review your spouse’s income does not make the divorce a contested one.
Do not make any assumptions
There are two things that you should not do in an uncontested divorce. Do not make any assumptions about your spouse’s earnings. It can cause serious problems later on. Also, do not believe whatever your spouse quotes as his or her earning and expenditure. Inaccurate estimates of finances will only make for inaccurate and incorrect calculations when it comes to deciding spousal or child support, alimony and other payments related to the finalizing of a divorce.
Get your finances in order
Make sure all your finances are in perfect order. Open a bank account for yourself and check your credit report.
Do not hope to settle all matters in an uncontested divorce all by yourself. If you are the self employed spouse or are seeking divorce from your self employed spouse, consult with a family law attorney based in California. Consult them for strategies that will help resolve all matters related to your divorce.
Getting divorced in California can be complicated. Download our free eBook, 18 Important Things to Know About California Divorce to educate yourself on the process.
If you are in the process of getting divorced, and prefer to revert back to the name you had before your marriage, it is possible to do so during or…