Building a successful business takes resources and commitment. After pouring time, energy, and financial equity into a business, it’s rewarding when your child takes an interest in what you do and becomes a part of it. Family and closely-held business owners will often gift ownership interests to their child as […]
During divorce, one of the most frequent questions asked is about assets which were owned prior to the marriage. Over the next few blogs, we consider different types of assets which you may have owned before the marriage and what happens to those assets when you get divorced.
Tax Law Partner, Gary R. Botwinick and Family Law Partner, Cimmerian A. Morgan co-authored an article discussing the impact the New Federal Tax law will have on the practice of family law for the Family Law Supplement of the New Jersey Law Journal. New Federal Law Makes the Practice of […]
Depending on various circumstances, if one spouse in a divorce action has an ownership interest in a business, that ownership interest can be deemed a marital asset subject to equitable distribution with the non-business owning spouse. Consequently, your wife may indeed have a “marital interest” in your business. In general […]