In this article, we’re going to share ways for valuing businesses during a high net worth divorce. In this day and age of entrepreneurs, a spouse may own or operate their own business, may be a partner in a business or professional practice, or both spouses may have started and owned businesses together. Owning and
Category: Assets
Spendthrift Provisions
A parent’s ultimate goal is to provide their children with a better life and opportunities than they had. That goal does not end when they become adults. Setting up a trust will allow you to care for your children and grandchildren even after your passing. One concern when leaving someone an inheritance is will that
Parental Power of Attorney
In Arizona, there are several types of Power of Attorneys – all of which serve different purposes. In general, a Power of Attorney is the authority to act for another person. Most commonly a power of attorney is used to handle one’s financial or healthcare wishes in the event that they cannot do so themselves.
Art
Art or art collections can be another common, unique asset that comes up during a divorce or separation but can be very difficult to value or divide appropriately. In most instance, an expert will need to be engaged to determine the value of the piece or collection. A particular artwork could be something that has
Gray Divorce and Retirement Assets
When saving for retirement, most couples try to plan for how to continue their standard of living for an extended period of time after retirement. They “do the math” to determine how their household will function financially when there is no longer new income coming in. But, what happens when one household becomes two? No
“DOUBLE DIPPING” IN DIVISION OF A BUSINESS AND IN SPOUSAL MAINTENANCE CALCULATIONS
If you are divorcing and you or your spouse own a business, it is important to be aware of the concept of “double-dipping” as it applies to asset division and spousal maintenance awards. Because Arizona is a community property state, if a business was started – or if the value increased – during a marriage
from “DOUBLE DIPPING” IN DIVISION OF A BUSINESS AND IN SPOUSAL MAINTENANCE CALCULATIONS
THE NEW TAX LAW AND REAL ESTATE OWNERSHIP
Now that we have explored the effect the new tax law will have on spousal maintenance, we will address the impact the tax law will have on real estate ownership. In divorces, often one spouse keeps the former marital residence and the other spouse will purchase a new home, or the parties will sell the
IF YOU HAVE RE-FINANCED YOUR HOME AND YOU HAVE A TRUST YOU MUST READ THIS BLOG
While interest rates have risen they are low and many people have re-financed their homes. If you are one of the many that have taken advantage of these great rates and you have a trust included in your estate plan, there is a little extra homework that you should do. I’ve had numerous clients come
from IF YOU HAVE RE-FINANCED YOUR HOME AND YOU HAVE A TRUST YOU MUST READ THIS BLOG
THE QUICK AND SIMPLE WAY TO TRANSFER YOUR VEHICLE UPON DEATH
Many people are unaware that the State of Arizona allows individuals to transfer their motor vehicle outside of probate through a Beneficiary Designation Form. You can only use the form on a vehicle that is owned by one person. A transfer through a Beneficiary Designation allows the beneficiary to inherit the vehicle, subject to any
from THE QUICK AND SIMPLE WAY TO TRANSFER YOUR VEHICLE UPON DEATH
CASH FLOW TIGHT? HOW YOU CAN PAY YOUR SPOUSE FOR AN INTEREST IN A BUSINESS
Once a value for the business is established – usually through a business valuation done by a certified business evaluator or expert which we will discuss in more detail in a later blog in this two month series – we can find creative ways to pay your spouse for that interest without you necessarily having
from CASH FLOW TIGHT? HOW YOU CAN PAY YOUR SPOUSE FOR AN INTEREST IN A BUSINESS
