A new article on Entrepreneur.com entitled How to Divorce-Proof Your Company, discusses seven strategies you can use to help protect your business if you end up in divorce court including:
- Maintain good records, and keep the family’s finances separate from those of the business.
- Pay yourself a good salary.
- Fire your spouse.
- Sacrifice other assets.
- Get a fair valuation.
- Arrange to make any payments over time.
- Raise capital by selling a stake.
Dan Clement is quoted extensively in the article giving tips and recommendations. You can read the full article here:
Daniel Clement was recently featured in a local news story on social media and the role it plays in family law issues.
Divorce Tax Tips: The Bottom Line
My Article Divorce Tax Tips: The Bottom Line appears on the Huffington Post. The article highlights seven ways in which a little planning in your divorce can reduce your taxes.
New York recently enacted a no fault divorce. The new law enables a couple to dissolve a marriage without assigning fault to one of the parties. In order to make out the cause of action the parties have to allege that the marriage has irretrievably broken down for six months or more.
When the bill was enacted, the governor noted that :
New York enacted guidelines for awarding temporary maintenance while the divorce is pending.
Pursuant to the guidelines, maintenance is to be awarded during the divorce when one parties
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