Marital Assets

News & Analysis as of

Business and Professional Practice Valuation in Divorce

The valuation of a business or professional practice in a divorce proceeding requires the resolution of unique issues. Among the most significant of these issues are the valuation date and the standard of value to be...more

How Does Ashley Madison Membership Effect PA Divorces?

Ashley-Madison is a controversial online dating/social networking service, based in Canada, which markets to married individuals or those in a committed relationship. Its slogan is “Life is short. Have an affair.” The site,...more

How to File for Divorce?

Steps to make the divorce process as painless as possible: 1. Speak with an Attorney First. Going through a divorce is not simply a legal matter. More often than not, there are complicated legal issues involved which are...more

Premarital planning - Protecting your assets without a prenup

Protecting family assets in the event of a divorce is particularly significant for family business owners, who typically want to avoid sharing ownership with their ex-spouses or their children’s ex-spouses. A prenuptial...more

Insight on Estate Planning - August/September 2015

In This Issue: - Premarital planning: Protecting your assets without a prenup - The ABLE account: A good alternative to a special needs trust? - Make net gifts to reduce your gift tax rate - Estate Planning...more

U.S. Supreme Court Holds Same-Sex Marriage To Be a Fundamental Right

The United States Supreme Court issued its opinion in Obergefell v. Hodges, 576 U.S. ___ (2015) on June 26, 2015. In a 5-4 decision, the Supreme Court held that the Fourteenth Amendment requires a State to license a marriage...more

Selling the Business to Divide the Assets, Part 2

This is Part 2 of my discussion of a third alternative for answering the question: When a closely-held business is a valuable marital asset, how can its value be turned into cash? Part 1 discussed the main pros and cons of...more

Family Law Newsletter - April 2015

In This Issue: - Divorce and Your Business, Part I: Plan B - Family Law Attorney and Counsellor at Law - Excerpt from Family Law Attorney and Counsellor at Law: In a recent custody proceeding, my co-counsel...more

Appellate Court Notes

- AC35807 - Llera v. Commissioner of Correction [Not summarized.] - AC36240 - Customers Bank v. Tomonto Industries, LLC Plaintiff bank acquired the assets of a defunct bank from the FDIC, including the $3...more

Selling the Business to Divide the Assets, Part 1

This is the latest in my series discussing a recurring question: When a closely-held business is a valuable marital asset, how can its value be turned into cash? I’ve previously touched on two alternatives by which the spouse...more

Defining the Marital Portion of a Retirement Plan

The issue of what constitutes the “marital portion” of a retirement plan in Florida is not always clear. Compare Boyett v. Boyett, 703 So. 2d 451 (Fla. 1997) with Nix v. Nix, 930 So. 2d 711 (Fla. 1st DCA 2006); compare also...more

Superior Court Opens Divorce Matter That Concluded in 2005

In the Pennsylvania Superior Court case Kozel v. Kozel, a trial court's decision to re-open a divorce matter that originally concluded in 2005 was upheld. The trial court opened the divorce matter based on the theory of...more

High Asset Divorces: Several Lessons

I’m a divorce lawyer. Upon hearing this, most people offer condolences. In response, what I tell them is I offer people compassion as they experience one of the most devastating events that may befall a family. It doesn’t...more

When Should You Turn Down a Billion Dollars?

Oil tycoon Harold Hamm and his now ex-wife, Sue Ann Arnall – whose divorce we have written about before – were involved in one of the largest and nastiest divorces in US history. Just last week, Mr. Hamm sent Ms. Arnall a...more

Playing Hide and Seek with Marital Assets

Hiding assets during a divorce is sneaky, unethical and illegal – but, unfortunately, it happens. Hiding assets can be easy to do, especially if one of the parties handles the finances and the other spouse is unaware,...more

Divorce and Beneficiary Designations—Florida Law Changes

Introduction - This article discusses a significant change in Florida law regarding the effect of dissolution or annulment of marriage on designations of one former spouse as beneficiary upon death of the insured other...more

Hide and Seek – Tracking Down Hidden Assets in Divorce Cases

Divorce is never an easy time for anyone involved. The end of any relationship carries an excessive amount of emotional weight, but divorce brings with it all the stresses and conflicts that accompany a financial decoupling...more

Frequently Forgotten Divorce Asset: Loss Carry-Forwards

Loss carry-forward is a frequently forgotten asset in divorces. Whether the loss arises from the operation of a business (Net Operating Loss) or sale of stocks (capital loss), it is a valuable asset which may be used to...more

Do same sex couples have the same legal rights as other couples?  [Video]

Phoenix business law firm Jaburg Wilk Estate Planning attorney Beth Cohn talks about the legal rights of same sex couples who are married or are planning to be married. For more information visit www.jaburgwilk.com....more

How Does Debt Work in a Divorce?

Divorce includes the division of assets and debts. Frequently, it is easier to divide assets than to divide debts. Both credit (including store) cards and mortgages present unique problems when divorcing....more

Financing the Business Buyout – Part I (Lenders)

My first article in this series addressed this question: When the closely-held business is a substantial marital asset, what are the three main choices for turning the Departing Spouse’s interest into cash payments? My next...more

Installment Terms for the Business Buyout in a Divorce

For many divorcing couples, a closely-held business is the most valuable marital asset. In most cases, it is likely that only one spouse will remain with the business, raising this key issue: How can the interest of the...more

Divorce – Impacting Your Meddlin Hands Partners!

To the other four minority owners who enjoyed the meteoric rise of Meddlin Hands Cleaning Products, when Lucy Knott sued their majority partner Tigh A. Knott for divorce, the divorce was anything but routine. Lucy wants half...more

The Marital Deduction: A Valuable Estate Planning Tool

The federal estate tax marital deduction is one of the most important estate planning tools available to a married couple. The basic marital deduction rule is that, upon the death of the first spouse, the value of any...more

Insight on Estate Planning - August/September 2014

In This Issue: - Unintended consequences: After divorce, review your estate plan to avoid surprises - Protecting your real estate assets - How will the GST tax affect your estate plan? - Estate...more

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