When business assets are part of a California divorce, the complexity of property division increases. An essential initial step is establishing whether the business was initiated by one party before the marriage or was founded during the marriage.
Critical considerations in this process involve deciding whether business assets should be sold for property division or if one party will retain ownership or control post-divorce. Additionally, it's crucial to determine if the other party will maintain any financial interests in the business after the divorce.
The court assesses several factors to ascertain whether the business is treated as community property or separate property. These factors include the busines...
When business assets are part of a California divorce, the complexity of property division increases. An essential initial step is establishing whether the business was initiated by one party before the marriage or was founded during the marriage.
Critical considerations in this process involve deciding whether business assets should be sold for property division or if one party will retain ownership or control post-divorce. Additionally, it's crucial to determine if the other party will maintain any financial interests in the business after the divorce.
The court assesses several factors to ascertain whether the business is treated as community property or separate property. These factors include the business's establishment date, the marriage date, each spouse's contribution to the business, the sources of business capital, and the valuation of the business at the time of divorce.
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