Will I Have to Sell My Business Because of Our Divorce

Will I Have to Sell My Business Because of Our Divorce in North County?

Pierre Domercq Professional Practice & Business Ownership

A common concern among business owners is how the business itself or a professional practice will be handled in a divorce. You may wonder “Will I have to sell my business because of our divorce?” Business or professional practice valuation and the division of the community property interest in a Carlsbad, Vista or Carlsbad divorce case are very complex legal …

Plan the Date of Separation in Your Carlsbad Divorce

Plan the Date of Separation in Your Carlsbad Divorce

Pierre Domercq Divorce

Why is it so important to plan the date of separation in your Carlsbad divorce?  What is the date of separation and why is it such a critical date? The date of separation was legally changed in California in 2017 by our legislature.  The parties are not required to physically separate anymore, as this can present an unfair economic burden. …

Important financial issues to consider before filing a divorce

Important Financial Issues to Consider Before Filing a Divorce

Pierre Domercq Divorce

What are the important financial issues to consider before filing a divorce?  In California and around the country, there is commonly an uptick in the number of divorce filings after the New Year.  Many people choose to file for divorce at the beginning of the year so they can start their lives afresh.  New divorce filings often pick up after …

fraud in a North County divorce

Fraud in a North County Divorce Case

Pierre Domercq Divorce

What should you do if you suspect fraud in a North County divorce case?  When an individual or couple file for a divorce the court issues a variety of orders. The former spouses owe a “fiduciary duty” to one another to provide a full, transparent and accurate accounting of all assets, bank and investment accounts, retirement accounts, vehicles, real estate, …

What Happens to Your Business During a Divorce

What Happens to Your Business During a Divorce

Pierre Domercq Professional Practice & Business Ownership

What happens to your business during a divorce in Carlsbad, Encinitas, Oceanside or anywhere in North County San Diego? Generally speaking, the spouse who has the ownership interest in the business must buy out the community property interest of the non-ownership spouse.  When both spouses are working together sharing joint interest of the business there are three likely outcomes: 1. …

How Will Your 401(k) be Handled in a Divorce

How Will Your 401(k) be Handled in a Divorce?

Pierre Domercq Divorce

How will your 401(k) be handled in a divorce in Carlsbad, Oceanside, Encinitas or North County San Diego?  Retirement assets such as a 401(k) are considered in the same manner as “community property” and marital contributions are usually fairly or equally divided between the parties. If you entered the marriage with a balance in your 401(k) the “community property” value …

Spouses Co-Own a Business in a North County Divorce

What Happens When Spouses Co-Own a Business in a North County Divorce?

Pierre Domercq Professional Practice & Business Ownership

What happens when spouses co-own a business in a North County divorce? There are many spouses who purchase a business together, and work side-by-side to make the business successful. What happens to this business in the event of a divorce? The key to these answers lies with the parties themselves.  Is the business viable without one or both of the …

Process of Business Valuation in a Carlsbad Divorce

What is the Process of Business Valuation in a Carlsbad Divorce

Pierre Domercq Professional Practice & Business Ownership

What is the process of business valuation in a Carlsbad Divorce?  Why is the valuation of a business or professional practice often such a contentious issue? We’ll begin with the second question first.  All “community” assets of the couple must be divided during a divorce.  If the business or professional practice is in whole or in part community property, the …