Category: Complex Financial Issues

Do I need a Prenuptial Agreement?

Quite often, soon-to-be-married individuals casually address lawyer friends at social events and cocktail parties wondering this very question. They are in love; they almost don’t want to think about it, but the nagging question makes them wonder — and with good reason. The answer — it depends. Here are five circumstances our Pittsburgh asset protection attorneys have found where a prenuptial agreement may be right for you: If you already […]

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Complex Divorce: Dividing the Marriage and the Business

November 22, 2017 | Blog, Business Valuation, Complex Financial Issues, Divorce, Executive Compensation

Icon for author Heather Trostle Smith Heather Trostle Smith

Business attorneys will tell you nothing is more complex than dealing with the dissolution of business partnership. They even refer to it as a “business divorce.”  However, there may be something more complicated than a “business divorce,” and that is an actual divorce between spouses who jointly own a closely held business. Almost one-third of the 2.6 million companies authorized to do business in Pennsylvania are small businesses of fewer than […]

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Lack of Expert, Evidence Foils Business Valuation in Divorce

Personal Goodwill versus Enterprise Goodwill

When a business is an asset in a Pennsylvania divorce, the court needs detailed information — and often a business valuation in divorce — to perform equitable distribution. The information must be presented in court in an effective way.  Not having a business valuation or detailed information can lead to unexpected results.  Recently, in Sweeney v. Sweeney, No. 2164 EDA 2015 (August 30, 2016) (non-precedential), the Superior Court confronted a divorce case in which the […]

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Can Divorced Exes Remain Partners in Business?

Business owners in Pennsylvania who are seeking a divorce may be encouraged to hear that it is possible to remain business partners even while dissolving the marital relationship. According to U.S. Census Bureau statistics, 3.7 million small businesses are owned by married couples. Many of them face divorce each year, placing their businesses at risk as emotions interfere with corporate decision-making and cash flow. For some businesses, it is impractical […]

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