Business Owner Divorce

Cash-based business, is a term that refers to companies that take most or a large percentage of their payments in cash. This setup often involves less documentation than other business structures. However, it can create legal complications and problems with the Internal Revenue Service (IRS). During a divorce, a cash-based business can also create additional […]

The best news about owning a business is that if you have created an LLC or own a corporation, they will help you protect your business assets. This is great news if you created the business before marriage and will help protect you in case of a divorce. Being a small business owner means you […]

Obtaining a professional degree is hard work that requires dedication and sacrifice, not only for the student but also for their spouse. Not to mention, it can also be quite costly and burdensome on the family budget. The courts realize that some spouses put their loved one through an expensive and time-consuming degree program only […]

No matter how long a couple is married or what their financial state is, a divorce requires them to identify, value, and divide their assets. If their finances involve only bank or retirement accounts, this can be a simple process. However, if they have a business, the division of business interests can become complicated. In […]

You probably decided to start a business for many of the same reasons you chose to marry your spouse. Not only does your business provide you with financial stability, it also allows you to grow as a person. While your marriage is now on the rocks, your business may continue to thrive. Accordingly, before you […]

Putting together a family business is often equal parts difficult and rewarding. Those who find success may see the business as more than just a profession, but as an additional part of the family. The business can become a part of the family’s culture, a part of the family’s heritage. Like any other part of […]

A wedding is an exciting and stressful event — particularly for the couple getting married. The days leading up to this big event are likely filled with discussions about venues, photographers and caterers. Although these discussions are important to ensure the day goes smoothly, there are other discussions that are even more important. These discussions […]

Many American couples start a business together. In fact, an estimated 3 million small businesses in the U.S. in 2000 were couple-owned, and that number has likely grown over the last nearly two decades. When a couple have become business partners and dissolve their marriage, the process can be disruptive – and even detrimental – […]

Divorce involves the splitting of assets. Assets are generally broken down into one of two categories: marital or nonmarital, also referred to as separate. Marital assets are subject to split while assets that are deemed separate remain the property of the owning spouse. Keeping assets separate can be difficult. As such, each separate asset generally […]

Imagine yourself as a budding entrepreneur with a great idea. You work hard every day to grow and expand your business. Suddenly you are receiving larger orders as the days and weeks pass. Your work has become your life. In the little free time you have, you go out with friends and eventually, when you […]