Is the business taken into account when it comes time for calculating child support? For example, if the teenage children are driving company cars, have company cell phones, etc.
Asset and Property Issues
How is spousal support determined in divorce cases that involve a business?
Spousal support is based on, in any case, the income of both of the parties. The first thing is are both parties working? Is one party making more money than the other person? Those types of factors. That’s going to be the same in any case. But when it involves a business, you have to […]
How can you be sure that the spouse who has a cash-based business is telling you the truth about profits?
A lot of businesses are either cash-based or the books are not really that accurate, and you’re going to have to go into the tax return and look at the deductions and sort of add back in things like depreciation, car expenses, and who knows what. You’re really going to have to get a forensic […]
If a self-employed spouse is going through a divorce, are they going to get their share of the value of the business?
They would be getting their share if there is a value to the business. Are they going to get spousal support? If spousal support is an issue in the case because one of the parties doesn’t work or was working in the business and has to restart, they would get spousal support. There are a […]
What happens in a case where valuation of a family farm is needed?
I had a farm case like that very recently, and it had just those issues where my client was a peach farmer and he wanted to continue farming. His wife was going to take part of the land and be the one in charge of developing it. In most of the farm cases, there are […]
If both spouses co-own a business together, how will it be divided after divorce?
In the last couple of years, I have had a case with a couple who were veterinarians, and they both owned and ran this veterinarian practice. You are sitting there wondering who is going to leave and who is going to stay. When you get a divorce, you’re going to disentangle the parties completely and […]
How can a business owner protect their company during divorce?
How can a business owner protect their company during divorce, both financially and from unnecessary disruption from the other side’s attorney?
What should a business owner’s first step be after being served with divorce papers?
It’s the same for everybody. Take a deep breath and realize that a divorce is a marathon, not a sprint. That’s one of the things that I tell almost all of my clients. Particularly for business owners, getting organized with your business bookkeeping is something that has caused problems in many business valuation cases. I’ve […]
Podcast: Beaverton Family Lawyer on Divorce with a Business Involved
Beaverton family lawyer and mediator Laura Schantz answers common questions business owners have when going through a divorce in Oregon.
What advice would you give somebody about ensuring that they get their fair share during a divorce?
It’s very interesting about how we define what their fair share is. To some people, it needs to be 50%. To other people, it’s, “I need to be able to live comfortably and I don’t want to bankrupt my other spouse because I recognize that if that happens, I’m not going to be able to […]
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