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.
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 […]
Your question implicates one of the more complex areas of family law in New Jersey. To begin, a basic understanding of business “value” in the context of a divorce is necessary. Many are surprised to learn that the goal of a business valuation in the context of a divorce is […]