If the payment is to be made over time, it may include an interest component. Regardless of the amount, a specific mandate will be entered setting forth how the spouse who is not titled to the business is to be paid. That share can range from 20% to 50%, and many factors impact a court’s decision – or a party’s negotiating position. Once the business is valued, the parties will negotiate – or the court will order – the non-titled spouse’s share. If either spouse owns a business, the proper way to determine the value of that business is to retain an expert who can calculate its value. I’ll give you 20%.” This means the non-titled spouse receives 20% of that cash – or whatever percentage is named – instead of the 50% they might have received if those funds had been paid out and properly placed into another marital account, such as a checking or savings account.ĭownload Our Free New York Divorce Guide Dividing Business During Divorce: Getting a Share of Your Spouse’s Business These retained accounts sometimes grow to unreasonable levels – and then the spouse who owns the business says, “Let’s divide the business assets. For example, we sometimes find money hidden in business accounts where the business’ cash accounts continue to accrue money that is not paid to the business owner. Today’s access to electronic records – and records in general – make it very difficult to hide money. Dividing Business During Divorce: Finding Hidden Money in a Business There are a variety of things that can happen when dividing a business. You may not know exactly what that entails. ![]() Dividing business during divorce can be very stressful.
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