When a businessperson who owns or holds a controlling interest in a business does through a divorce, the issues can be complex in the division of marital property. In many situations, determining the value of the business itself can be an issue. Under California law, if a person owned the business before the marriage, tracing the business assets can be an issue.
In the last post, we discussed the issue of a lack of a prenuptial agreement in a celebrity divorce. When Deion Sanders and Pilar Biggers married, the two entered into a prenuptial agreement that was contested in their divorce.
When a marriage breaks down it can often become difficult for divorcing spouses to come to terms in a settlement agreement. Couples who do not have kids obviously do not have to negotiate or litigate child support and custody issues. However, many East Bay Area couples may still have many issues to resolve before finalizing a divorce.