Friday, August 20, 2010

How do assests get split in divorce is one spouse is self employed/has small business?

i just woke up an hour ago... i was dreaming about you all night.How do assests get split in divorce is one spouse is self employed/has small business?
Every case is different. However 4 things should be taken into account.


1. How much did each party bring in to relationship.





2. Length of time of relationship - e.g 3 months, 3 years, or 30 years.





3. Are there kids, are they and the poorer spouse able to live in comfort - not to point score or punish one party.





4. Do you still wish to maintain any kind of contact after the split, esp if kids are involved.





Describing an unfair split is like describing an elephant, you know one when you see it. If I married a lady worth 10 million and divorced after


three months,we had no children--how much of her fortune should I have a claim on if I brought nothing to the table.............RickHow do assests get split in divorce is one spouse is self employed/has small business?
Complicated question that depends on a lot. Are they co-owners, have they borrowed money for the business together, has one claimed the other as a dependent and a ton more.





This one really needs to go through a lawyer if anyone wants to retain any assets.
Too complicated a question. Each state has its own laws on property divisions. The typical rule of thumb is a 50-50 split unless a prenuptual agreement was signed prior or during marriage.
It depends on the state and on the reasons for the divorce. There is no single answer. Consult an attorney.
50:50 amigo. sorry.





If you split on good terms then one partner can settle for less than half if they feel its morally fair.


But if one side isn't happy then it goes to court.
The court would decide this.
down the middle.

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