In Mackay v. Mackay (2009), a parent attempted to enforce a casual conversation about college plans for their young children as a “verbal agreement” to pay college expenses.
During the statewide broadcast of PBI’s Family Law Update today, my colleague David Ladov asked me to post the features that a marital settlement agreement would have to contain in order to qualify as a QDRO (qualified domestic relations order). A QDRO is one of two possible ways that someone may waive his or her right to receive a share of his or her ex-spouse’s retirement benefits (the other being a beneficiary designation form).
A business owner’s spouse who signed a buy-sell agreement was bound by the value in a divorce action.
How do you know whether a professional practice (e.g., medical practice, dental practice, law firm or accounting firm) might have value that can be divided in a a divorce? Here are three signs that a professional practice might have value.
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.
Asking your fiance for a prenup doesn’t have to spoil the joy of your engagement.