QUESTION
When dividing assets, to include a personal business, how does the money get paid out? In one lump sum or over a span of time?
Asked on Aug 04th, 2015 on Divorce - Utah
More details to this question:
My husband owns a business. I am entitled to half of the company's value, but am worried about the costs involved in assuring I get my portion. Will I be "bought out" of the business at one time, or will it be done over a span of time, ie. monthly payments?
1 ANSWER
Family Law Attorney serving Salt Lake City, UT
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David R. Hartwig, Esq.
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That all depends on what the final order says. And, the final order depends upon what you agree to (if mediated or settled), or what the judge orders.
Your attorney should assist you in addressing your needs along these lines, at least that is what I view my jobs as requiring. So, talk with your attorney; if you do not have one, find one.
Answered on Aug 28th, 2015 at 8:00 AM