Equitable Distribution

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A Ruff Decision

A recent survey conducted by the American Pet Products Association reveals that 68% of households in the United States own a pet.  It is very likely that the dogs, cats, and other animals residing in most of these 84.6 million homes are treated like treasured members of the family. It comes as no surprise, therefore, that when people get divorced, they may fight like cats and dogs over…well…their cats and dogs.  In fact, one of the most common questions we are asked during consultations is “what will happen to [...]

By | 2017-12-12T21:52:35+00:00 December 12th, 2017|Equitable Distribution, Property|Comments Off on A Ruff Decision

Hidden Assets

ASSETS ACQUIRED during the marriage are subject to equitable distribution. Some people try to avoid sharing assets by hiding them. Hidden assets come in many shapes and sizes. Finding them often requires the assistance of forensic accountants and private investigators. Although cash is becoming an increasingly outmoded method of payment, some small businesses still receive a significant percentage of their revenue in cash. Cash receipts may be unreported (or underreported) and hidden in accounts in the name of another person, in safes or mattresses, or even offshore. Tony Soprano [...]

By | 2017-02-27T20:46:11+00:00 September 27th, 2016|Equitable Distribution, Hidden Assets|Comments Off on Hidden Assets

At The Movies

“In Hollywood, an equitable divorce settlement means each party getting fifty percent of the publicity.” Lauren Bacall, movie actress. It’s Academy Awards season. What better time to see how movies have handled divorce through the years? A popular topic since the advent of silent movies, A Bill of Divorcement (1922) was one of the first. Ten years later the remake starred John Barrymore and Katherine Hepburn and sound. The movie made Hepburn an instant star. Divorce movies-comedies, dramas, foreign filmshave been made by the dozens in the decades since. [...]

By | 2017-03-03T21:27:50+00:00 March 3rd, 2014|Divorce, Equitable Distribution|Comments Off on At The Movies

Financial Experts

Often a spouse’s interest in a small business or a professional practice is an asset subject to equitable distribution. A restaurant, a software company, an architectural practice and a law firm are examples of assets that may have to be divided as part of the divorce.  In order to equitably distribute this type asset, its value must first be established.  Since there is usually no readily available comparable sales data to consult in reaching an estimate of value, other methodologies have been devised by accountants and courts to calculate value [...]

By | 2017-03-03T22:37:04+00:00 June 3rd, 2013|Equitable Distribution|Comments Off on Financial Experts