Here, you’ll find access to the most detailed information as it pertains to Entrepreneurial Divorce in North Carolina.
Your wife is a very successful dermatologist. She owns a practice with 3 other doctors. Your family lived the life of their dreams until your wife cheated with your neighbor and told you she was leaving you. You don’t earn nearly the income she does. Her career came first and yours always took a backseat. You are counting on receiving money from her business to assist you financially until you...
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The sad truth is that the entrepreneurial lifestyle can wreak havoc on a marriage. Many entrepreneurs focus most of their time and energy on making their business succeed. Working long hours, spending lots of time away from home, and depleting the marital bank account are just a few factors that may contribute to the dissolution of an entrepreneur’s marriage. Entrepreneurship is risky. Your business may...
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IRS Revenue Ruling 59-60 provides the fundamental rules for business valuation of a closely held corporation. The stated purpose of the ruling is to “outline and review in general the approach, methods and factors to be considered in valuing shares of the capital stock of closely held corporations for estate tax and gift tax purposes.” Somewhat surprisingly, even though the ruling is over fifty years...
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Entrepreneurship is difficult; the entrepreneurial life is a mixture of long hours, high risk and financial uncertainty. Often entrepreneurs end up being the worst spouses, even if they don’t mean to be. In order to make a business venture succeed the entrepreneur has to work long hours, spend a lot of time away from home, and may also deplete financial resources in the process. Obviously this...
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One of the more difficult items to divide in divorce is a stock option. An option is a specific type of employment benefit in which the employer company gives the employee an option to buy company stock in the future at a discounted or stated fixed price. So rather than simply offering the employee stock as a benefit, they are given the ability to purchase...
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As part of the divorce process, many assets and liabilities will have to be divided between the parties through a process called equitable distribution. Essentially, a court will classify property as either marital or separate, place a value on the property, and then distribute between the spouses. The value used will be the fair market value as of the date of separation. For some items,...
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I was speaking with a friend the other day that recently opened a local bakery. It took him fifteen months to actually open the doors after he started the process, and he has also seen his bank account shrink at a rapid pace over those fifteen months. The good news for my friend is that the bakery has been an overwhelming success; it continues to...
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The sad truth is that entrepreneurs are more likely to end up going through a divorce than those who work traditional jobs. Entrepreneurship is risky, requires working long hours, and can plummet a couple into serious debt. Many aspects of being an entrepreneur can lead to the breakdown of a marriage. While the payoff may be huge if your business venture is a success, your...
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Selling, splitting, and dividing business assets can make divorce trickier When a couple goes through a divorce, assets and liabilities are split through a process called Equitable Distribution. Essentially, a court will classify property as either marital or separate, place a value on the property, and then distribute the property between the spouses. Certainly, some types of property are easier to distribute than others. For...
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