Equitable Distribution

Divorce and the Family Business – Triggering Event in Buy-Sell Agreements

Apr 19, 2018

Based on multiple studies and statistics, the sad truth is that divorce is virtually inevitable in any sizable family. Divorce can be a severe disruption to a family business, so as much advanced planning as possible should be done to minimize or, better yet, to avoid such disruptions. Buy-sell agreements should, but rarely do, cover […]

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LIMITED PARTNERSHIP INTEREST NOT INCLUDED IN EQUITABLE DISTRIBUTION BECAUSE PARTNER’S INTEREST WAS TERMINATED IF THAT PERSON DIVORCED

Jan 18, 2018

  In this divorce proceeding, husband’s interest in a limited partnership was not included in the division of property, because the partnership agreement contained a valid provision stating that a partner’s interest was terminated if that person divorced. Wife filed an action for dissolution of marriage. The parties were married in July 1999. They separated […]

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EQUITABLE DISTRIBUTION ANALYSIS MUST CONSIDER THE TAX RAMIFICATIONS AND EXPENSES ASSOCIATED WITH THE SALE OF EACH MARITAL ASSET

Dec 27, 2017

The Pennsylvania Superior Court in an equitable distribution case ruled that the trial court did not err in adopting wife’s experts’ methodology in evaluating the parties’ transport business; however the court did err in failing to consider evidence related to the potential sale of the business before assigning the asset to husband. The parties were […]

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SURVIVING SPOUSE IS REQUIRED TO OBTAIN CONSENT OF THE PERSONAL REPRESENTATIVE OF DECEASED SPOUSE TO WITHDRAW DIVORCE ACTION

Nov 29, 2017

  Insurance beneficiary designation was not statutorily invalidated due to the pendency of a divorce proceeding between the insured decedent and named beneficiary. Colleen and Matthew Easterday cross-appealed from the order of the orphans’ court adjudicating the rights of the parties regarding pension and insurance benefits payable upon the death of decedent Michael Easterday. Decedent […]

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LIMITED PARTNERSHIP INTEREST NOT INCLUDED IN EQUITABLE DISTRIBUTION BECAUSE PARTNER’S INTEREST WAS TERMINATED IF THAT PERSON DIVORCED

Nov 15, 2017

In this divorce proceeding, husband’s interest in a limited partnership was not included in the division of property, because the partnership agreement contained a valid provision stating that a partner’s interest was terminated if that person divorced. Wife filed an action for dissolution of marriage. The parties were married in July 1999. They separated in […]

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HIDING ASSETS IN A DIVORCE

Jul 13, 2017

Imagine that you win millions of dollars in a lottery. Your spouse did not have a ticket. A month after you win, you file for divorce. You never disclose that you won the money or the amount of your winnings. Read more… Well over a year after the divorce, your former spouse receives a letter […]

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EQUITABLE DISTRIBUTION SHOULD CONSIDER THE EXPENSES AND TAXES OF A POTENTIAL SALE

Jul 11, 2017

In the family law, equitable distribution case of Carney v. Carney, PICS No. 17-0944 (Pa. Super. May 31, 2017), the Pennsylvania Superior Court ruled that the trial court erred in failing to consider evidence related to the potential sale of the parties’ successful trucking business before assigning the entire asset to husband as part of […]

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BUSINESS VALUATION IN DIVORCE

May 04, 2017

DIVORCE LAW- FAMILY LAW BUSINESS VALUATION IN DIVORCE Dividing a business owned by one spouse can add a level of complexity to a divorce. If a court decides the business is considered marital property, the value of the business must be determined and divided between the parties. In a community property state, the value may […]

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Is My Inheritance Considered Marital Property?

Mar 15, 2017

Inheritance Treated As A Gift To The Marriage And Is Marital Property For Equitable Distribution Purposes In the family law, equitable distribution case of Cowler vs. Cowler, PICS Case No.16-1284 (C.P. Centre, June 26, 2016) two parties in divorce, each with premarital assets from their prior lives, disagreed on the equitable distribution of their marital […]

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PIERCING CORPORATE VEIL WAS THE APPROPRIATE REMEDY IN EQUITABLE DISTRIBUTION DIVORCE PROCEEDING

Feb 24, 2017

After the end of their marriage, wife sought equitable distribution of the marital assets, including payment on a judgment to her from ex-husband’s company for unpaid contributions. Because of undue influence and commingling of funds, among other reasons, the court found that piercing the corporate veil was appropriate in the present case. Partial payment of […]

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