Skip to content

CATEGORIES

Division of Family Business

Categories

How to Sell Your Home During Divorce

Selling a home is always a significant undertaking. When you need to sell your home during a divorce, it’s easy to be overwhelmed by the potentially severe financial consequences. It is a daunting task. Before you sell your home during a divorce, know the basic concepts of ownership, tax liability, division of assets during California divorce, and how to decide when it’s time to sell. Defining and Establishing Ownership: California follows property law standards, so each party equally owns all property obtained during a marriage, regardless of what name is on the deed. A property purchased by one party, but…

READ MORE

Dividing the Assets: Is a Business an Income or an Asset?

Are you a business owner facing divorce? Are you the spouse of a business owner facing divorce? Either way, you probably have questions about how the business is handled during the division of assets. Is the business divided? How is it divided? Is the spouse of a business owner entitled to half of the business in divorce? First Things First: The Business Must be Evaluated A business is an asset. Like any other asset in a marriage (house, car, etc.) determining how it will be divided is based on characterization and valuation. Characterization determines what type of asset the business…

READ MORE

How to Recognize a Rigged Business Valuation During Child Support Calculations

If you or a soon-to-be ex-spouse own a business, it may need to be valued for the purposes of child support/spousal support calculations and asset distribution. Most credentialed valuation analysts are subject to both ethical and professional standards, but there are the rare few who will engage in subterfuge, attempting to rig the business valuation higher or lower to intentionally manipulate the result in favor of one spouse. Do you know how to spot a rigged business valuation? Watch Out for a Rigged Business Valuation: What To Look For Income: Rigged business valuations may report income too high or too…

READ MORE

How to avoid unequal distribution of property during a California divorce

Probably one of the most contentious tasks for any couple to agree on would be the division and distribution of property and assets during a divorce. Making through the assets separation in mutual agreement without the need for additional intervention is certainly a welcome situation for both spouses. If in case you’re unable to settle the issue of property distribution with your spouse, a California family law judge will have to do it for you. To begin with property distribution in a divorce agreement across the United States is conducted via state law. Asset division follows either community property or…

READ MORE

What Happens To The Company You Run With Your Spouse After Divorce?

Many married people did not even think in their wildest dreams that would get divorced one day. This is especially true when the spouses work with one another. Irrespective of what decision you arrive at, these are some of the important things you need to sort out in your business while your divorce is underway. You need to be clear about creating divisions between emotional, financial and legal issues Any divorce is not just a legal split between married couples. When both of you are working together, you should be serious about sorting out ways of dealing with your business,…

READ MORE

What To Know About Business Valuations In California Divorces

Professional business valuations is an expensive task in any marital dissolution. The spouse who manages the business quickly realizes that techniques used to value the practice have no relation with the practice’s fair market value. The spouse can then in all fairness insist that no willing buyer can be found. There can also be concerns regarding “double dipping”. This comes as the same earnings used to calculate a value in such a practice can also be utilized for calculating the support. In case the practice has a value of marital efforts, it must also be divided. In California, a number…

READ MORE

How To Run A Family Business With Your Ex-Spouse

Statistics claim that the United States alone has about one million businesses jointly run by couples. At the same time, as many as 9,00,000 divorces get filed each year in the country. Now, that also means that several marriages where a husband and wife run a joint business form a component of their marital assets will also end in divorce. But there need not be any dissolution of a business partnership just because the marriage has ended. If a marriage gets dissolved and there is an involvement of a jointly-run business, then the options available are limited and may be…

READ MORE

3 Ways Small Business Owners Can Protect Business Assets In Divorce

Divorce is a stressful experience, especially when it involves the division of properties, assets and businesses. For some, it is even more painful because a business is about all they have and splitting the business in two can cause a lot of financial damage. Small business owners know how tough it is to operate a business when the economy is constantly changing. Include a divorce and the stress reaches to new levels. So, what should a business owner do at times like these? They can follow three easy steps to limit the impact to their business from divorce. Maintain an…

READ MORE

Dividing A Business or Professional Practice In Divorce

Similar to the other assets and property, the business and professional practice is also subject to division between the two parties involved in a divorce. The first consideration to be made in the deciding upon the division of a closely held business or professional practice is to determine whether it falls under the category of separate or community property. Determination of a business or a professional practice as separate or community property  The basic guidelines of establishing a business or professional practice as a marital asset are similar to those employed for other property and estate. A business or professional…

READ MORE
lawyer-com-premium-full-2
top-10-full
Ten-Best-full-2
Top Orange County Family Law Attorney
Top Orange County Divorce Lawyer
Best Orange County Family Law Attorney
Top Orange County Divorce Lawyer
top-100-full
Schedule a consultation