Business and Divorce Attorney in Bradley Beach, New Jersey

How is a business divided in a New Jersey divorce?

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typically in new jersey
um
there’s a
spouse
one or the other who is the
main driving force of the business
the other person
supports that person
maybe they’re working at home and taking
care of kids allowing that person to be
to have the flexibility and the time to
to do this business maybe that other
person is you know doing some clerical
work or making appointments or helping
with the website in any event both
parties are contributing toward the
enterprise
but
generally speaking the non-titled spouse
is going to be entitled to some
percentage of the business which is less
than 50 percent is it 25 percent is it
40 is it 37
sometimes there’s more art than science
when it comes to that and there’s
certainly the art of the deal
uh negotiation
but that’s how the non-title spouse
receives
monies by way of their contribution
toward
the family business sometimes it’s a
family business and both are equally
involved and typically there is more of
a 50 50 type of arrangement

Bradley Beach, NJ family law attorney Brian Winters explains how a business is divided in a New Jersey divorce. He notes that, typically in New Jersey, one spouse is the main driving force behind a business while the other provides support. That support might come in the form of managing the household and caring for children, which allows the business owner the time and flexibility to focus on the enterprise, or it could involve clerical tasks, scheduling, or maintaining the website. In any case, both spouses contribute to the success of the business. Generally, however, the non-titled spouse is entitled to a percentage of the business that is less than half—whether it ends up being 25 percent, 40 percent, or some negotiated figure in between. He notes that determining the percentage often involves more art than science, with negotiation playing a major role. The non-titled spouse ultimately receives compensation for his or her contributions through this share of the business value. In cases where both spouses are equally involved in running the enterprise, the division is more commonly a 50-50 arrangement.

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