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 […]
Category: Professional Practices
The Superior Court’s memorandum opinion in Edkin v. Edkin, No. 2017 MDA 2013 (December 23, 2013) arose from a case involving a veterinary practice in the context of divorce. The wife in Edkin filed a divorce action in 2001. Equitable distribution hearings were held in 2002, 2003, 2004, 2007 and 2009, resulting in a master’s report issued in 2010. Exceptions were argued in 2010 and 2011, resulting in a final […]
August 10, 2009 | Business Valuation, Complex Financial Issues, Court Decisions, Divorce, Executive Compensation, Income Calculations, Legal Perspective, Marital Property, Professional Practices, Settlement
The Seventh Circuit held that the salary earned by a CEO of a privately-held business (including a $17 million year-end bonus) was neither excessive nor a disguised dividend.