Reading through the reams of documents created when you started or bought into a S-corp is a task you likely delegated to an attorney. Your job was running the business, or supporting your business-running spouse, not checking to see that every i was dotted and t crossed. You likely opted not to...
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If you own a business and you're facing divorce, you've probably already been told that mediation and collaborative divorce are both “alternatives to litigation.” That's true, but it's about as helpful as saying apples and bananas are both fruit. For a business owner, knowing the difference matters, because the divorce...
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A W2 is something you can hold in your hand. So is a bank statement or a stock certificate. These tangible, employment-derived assets are what New Mexico policy-makers were focused on when they drafted our state’s divorce laws.
Little thought was given to intangible/future/theoretical compensation like phantom stock...
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Ask ten Albuquerque locals what “green chile” tastes like, and you’ll get ten different answers. Mild. Medium. Hatch-in-August-fiery. It's one word covering a huge range of flavor. The same is true when someone tells you hiring a “financial expert” is a must when you are headed toward divorce. That phrase covers...
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The LLC is the entity of choice for a majority of New Mexico business owners. So it is not surprising that New Mexico’s family law courts are quite familiar with the challenges that arise when LLC owners get divorced.
Before you start Googling, “What happens to my membership interest?...
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In a New Mexico divorce, many times a business’s goodwill is treated as community property, which must be valued and divided between spouses. But the amount that's actually subject to division depends on whether that goodwill belongs to the business itself or to the individual who runs it. That distinction, between...
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A couple decades ago, private equity figured something out that many professionals, like physicians, dentists, CPAs, and architects are just now wrapping their heads around: at its core, a practice is just another business.
The patient or client relationships, the recurring revenue, the systems, the reputation built over years...
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The answer to this question is every lawyer’s favorite answer: it depends. It depends on when you started the business, how it was funded, and how you've run it during the marriage. There are so many factors involved that it is not too far-fetched to say it depends on what your definition...
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If you co-own a business, you've probably got a buy-sell agreement in place. Because the document specifies what should happen to their share if one of the partners leaves, it’s one of the core legal documents most business owners sign when they get their legal ducks in a row.
For couples with significant assets, a professional practice, or a privately held business, collaborative divorce offers something the courtroom rarely can: privacy, control, and a resolution built around your financial reality, not the whims of a family court judge. It isn't the right fit for every situation, but for high-asset...
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