The possibility of divorce is why some couples who own a business together place a buy-sell agreement in their business contract. With a buy-sell agreement, one spouse can buy out the ownership interest of the other. This avoids the possibility that a divorce...
High-Asset Divorce
The Uniformed Services Former Spouse Protection Act – An overview
When married to military service members, people have access to the various benefits afforded to their spouses. The state’s property division laws may entitle divorcing spouses to one-half of the assets acquired during their marriages in the event of a divorce....
How do I handle tax breaks for my children post-divorce?
If you share children with a spouse, you will likely wonder how to take tax breaks that your children may benefit from after the court finalizes your divorce. During your marriage, you may have had little problem understanding how to claim family tax breaks on your...
QDROs and retirement accounts in divorce
When working out the terms of a divorce settlement, many couples end up agreeing to share the assets in one spouse's 401K account as part of their property division agreement. It is important, however, that people do not assume that documenting such an agreement in...
Your compensation package may complicate divorce talks
If you have never been divorced before, or if you had fewer or less complex assets the first time around, it may take you by surprise just how convoluted divorce calculations can get. A recent article in Forbes cautioned those with complex compensation packages to...
Four tips for financial stability during and after a high asset divorce
Life before, during and after divorce can bring a lot of financial strain on families. How you handle your finances and approach your divorce case may affect your financial situation in the long-term. While you may have an emphasized focus on important issues like...
How will the court split my private business assets in a divorce?
California is a community property state. So, in a divorce, courts divide assets and property between married spouses at a 50-50 split. You may be a business owner concerned about your rights in maintaining business ownership or the assets and value therein,...
5 questions to ask about business valuation during divorce
One way to make divorce more complicated is by adding a shared business to the equation. In such scenarios, one or more third party professionals typically conduct business valuations. Depending on individual circumstances, divorcing couples can follow one of three...
Could a forensic accountant help in your divorce?
A possible issue for couples in a divorce is hiding assets or one party not disclosing all assets. Even if you think that you know about all the assets your spouse has, there is always a chance that he or she has accounts or even properties that you do not know about....
3 risks of co-owning a vacation home with an ex-spouse
If you love to visit the same place regularly, you and your spouse may have decided to purchase a vacation home. Like all marital assets, though, you must address ownership of the property during your divorce. Commonly, divorcing spouses sell vacation getaways and...