“Double-dipping” or “double-counting” is an American principle in divorce proceedings that the same marital asset should not be both subject to the equitable distribution of property and utilized as an income generator to pay alimony. Put another way, the “general...
Many people in Connecticut own shares of family businesses set up to keep the entity and its profits within the family unit. Sometimes closed corporations involve small groups of friends or acquaintances as the sole shareholders, restricting business ownership...
In a literal sense, of course a spouse’s advanced degree or professional license almost always enhances the wealth and lifestyle of their family. But how is that value fairly accounted for in divorce? The Connecticut Supreme Court has held that educational degrees are...
In a divorce, either or both spouses may own a professional practice or have an interest in such a firm – whether it be legal, medical, dental, orthodontic, accounting, tax or another specialty. Connecticut law gives judges wide discretion in making decisions...
In any dissolution of marriage in Connecticut, the assets and liabilities of the parties are divided through the process of equitable division. Generally, the court has wide discretion in the distribution of property and may assign all, or any portion, of the estate...
Dividing closely-held business interests in divorce often is a challenging process. Connecticut law provides courts with wide discretion in distributing marital property. An important – and complicated—aspect of disposing of business interests involves the ...
Amazon founder and CEO Jeff Bezos and MacKenzie Bezos recently announced that they are getting a divorce after 25 years of marriage. This case highlights the challenges that business owners and executives often face in equitably dividing their assets during a divorce....
Behind the scenes, spouses may play an important role in the success of CEOs and other business leaders. They may serve as a sounding board, provide support and even offer suggestions about improving a business. Building A Successful Career TogetherAn article in...
For many divorcing couples, the most substantial asset to be divided is a business owned by one or both of the spouses. The value of this asset, not to mention the emotional component involved in family-owned businesses and businesses that individuals built from the...
Before a business can be divided in a divorce, it must be valued. This can be a particularly complex process, which can become even more challenging depending on the type and size of the business involved. It is critical to understand the varieties of business...
