Credit: yellowj/Adobe Stock What To Know When Representing a Business Owner in Divorce
Equitable distribution of assets is a multi-phase process that includes: (1) identifying each asset owned by either party; (2) valuing each asset; and (3) allocating ownership interests and distributing each asset pursuant to the factors set forth in N.J.S.A. 2A:34-23.1.
January 22, 2024 at 12:30 PM
8 minute read
A divorce where one or both parties are business owners involves unique and specific issues. Business entity interests are complex assets that require calculation of value for purposes of equitable distribution; and business income and perquisites impact party "needs" and "abilities to pay" for support purposes. In addition to those significant issues, there are a myriad of other concerns to address in these divorce cases.
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