News & Updates

News & Updates

News & Updates

January 2, 2018

Divorcing? You or your spouse own a business? This is for you.

With the euphoria of the holiday season now largely behind us, we can be reminded of a sobering statistic; historically speaking, of all the months of the year, January is the one in which the highest number of divorce filings occurs. And as a reminder, if you or your spouse own an interest in a […]

With the euphoria of the holiday season now largely behind us, we can be reminded of a sobering statistic; historically speaking, of all the months of the year, January is the one in which the highest number of divorce filings occurs.

And as a reminder, if you or your spouse own an interest in a business, and live in one of these states: Texas , Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Washington and Wisconsin (and Alaska, in some circumstances), the value of that business needs to be determined, because that value will need to be divided between the parties in the event of a divorce.

The portion of the value of the business specifically attributable to the business owner, however, is generally not divisible ; depending on the industry and the dynamics of the specific business, this could have tremendous ramifications for your particular situation.

Watch the video below, and then please be in touch with any questions; happy to be a resource for you in this process.

A few thoughts:
 

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