Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

Closed Thread
 
Thread Tools
  #1  
Old 12-07-2005, 09:03 AM
hubby's Avatar
hubby hubby is offline
Senior Member
 
Join Date: Nov 2005
Posts: 522
hubby will become famous soon enough
Default Hands off business

So spouses are entitled to 50% of business. At what point are they not entitled to the revenues generated by the business? Is it at the time of seperation/divorce that the financial statements are looked upon and it is then determined the amount owing to them? After that point, any revenues generated are hands off to them? Of does one have to close the business and open under another entity after seperation/divorce?

Are just the revenues considered or do the courts look at the expenses and such or that negative equity has been realized of the last few years? In other words, they look at the total picture of the company when determining what they are entitled too?

Hubby
  #2  
Old 12-07-2005, 04:15 PM
Grace Grace is offline
Senior Member
 
Join Date: Oct 2005
Posts: 860
Grace has a spectacular aura aboutGrace has a spectacular aura about
Default

When you separate, the business would be evaluated on that date to determine your wife's "half". After that profits generated by the business would be considered for the purpose of determining your salary for child/spousal support.

The courts will look at the "whole picture" of your business.

Again, I'm no lawyer or accountant, but this is what happened with my divorce.
Closed Thread


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Unjust enrichment - which court? -clean hands? Strider22 Common Law Issues 4 06-09-2012 07:18 PM
stbx using 20 yr old business loss/bankrupcy against me? Just want my 50% onedayatatime Financial Issues 3 10-15-2011 04:56 PM
Separated and ex trying to sell our business Alextu Financial Issues 0 11-23-2009 08:28 PM
Hiding money in a business daver32 Divorce & Family Law 2 09-15-2008 01:48 PM
Business Debt hubby Financial Issues 1 03-13-2006 08:27 PM


All times are GMT -4. The time now is 02:19 PM.