If the parties agreed that they will pay for college, then they are obligated to pay for college. If they have not agreed to pay for college or it has not been addressed in their case, there are a number of issues that the court will consider in allocating the cost of college, such as […]
Financial Issues
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.
Is there any point in hiring a financial professional if the wage earning or business-owner spouse is not being co-operative?
You definitely should hire the financial professional to value the business. If the business owner is not being co-operative about producing records – again, this is something that the courts see very frequently – the non-business owning spouse could file an application with the court and essentially take the control away from the spouse. Business […]
Under what circumstances does someone need to hire a business valuator?
You wouldn’t want to do it unless it’s necessary. However, there are different ways that you can work with a business valuator to make it more cost-effective. For example, you could hire a joint business evaluator rather than each party obtaining their own business valuator. You would not only utilize the business valuator to determine […]
How do you determine their true income and what that business is actually worth?
If someone’s ex is self-employed in a cash-based business, how do you determine their true income and what that business is actually worth?
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