Are you contemplating divorce and want to know how your separate property will be treated? Or are you contemplating marriage and want to best protect your separate property? In Ohio, separate property generally remains separate property. If, over time, the separate...
In determining the value of a real estate holding company, the valuator must look at the element of control. Control is the ability to influence or direct the finances of a business, the large decisions of a business, and the day-to-day operations of a business. ...
Sometimes, married couples start businesses together. Other times, one spouse has entrepreneurial dreams and the other supports them by continuing to work or managing the family affairs so that they can focus on their startup. One spouse might acquire a business...
A lot of financially complex divorces involve family businesses, whether those are largely controlled by one spouse or both. Unfortunately, the issues with valuation of the business are not easily resolved. First, couples have to agree on how the value will be fixed,...
Property division is often one of the most significant concerns people have when contemplating divorce in Ohio. They worry that they will have a hard time reaching an agreement with their spouse concerning how to split their assets. When judges decide what happens to...
An individual’s successful business will likely contribute substantially to their overall personal wealth. It may be their main source of income, and they may reinvest in their company regularly. Therefore, their spouse may try to lay claim to some of the business's...
Owning a business when you’re going through a divorce can be a complicated reality. Understanding state laws concerning the division of business assets during a divorce is crucial. The timing of when the business was started can have a significant impact on how assets...
When a business owner or shareholder files for divorce, they may need to value or even sell their interest. Depending on the number and type of shares they own, and the makeup of the business itself, it may be appropriate to consider the application of a marketability...
Business owners going through divorce most likely will need to obtain a valuation of their business. Usually, the most time-consuming part of the valuation process is gathering all the necessary documents. Below is a list of documents that will likely be required to...
Passive income is income that requires little to no ongoing effort to obtain. Examples include dividends from stocks, rent payments from rental real estate or royalty payments from intellectual property. In a divorce, passive income may impact spousal support and...
