How are your home assets and debts divided in a Louisville divorce? The legal term for these issues is "marital property." Marital debts, assets and property are to be divided equally between the parties. While this may sound easy and straight forward, the reality is completely different in many Louisville divorce cases. Community property encompasses...
All Assets of a Business or Professional Practice Must be Considered During a Divorce Valuation
All assets of a business or professional practice must be considered during a divorce valuation in Louisville. This is especially true when establishing the value of a small business. According to a recent analysis by the US Treasury Department, the vast majority of American businesses are small companies, often without any employees or owners other...
Identifying the Value of a Spouse’s Business in a Louisville Divorce
What is the process for identifying the value of a spouse's business in a Louisville divorce? The most important thing you need to know as the spouse of a business owner is this: Your spouse will not have anything to say or do with the actual valuation of that business interest. That will be determined...
When a Business Asset in a Divorce is Losing Money
What happens when a business asset in a divorce is losing money? In a Louisville divorce all assets of the parties must be divided according to Kentucky’s marital property laws. This includes the ownership interests in a business or professional practice. Normally, the business would undergo an independent “valuation” to establish the value of the...