Business Interests / Advanced Degrees

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A divorce is always more difficult to face if you are a business owner or a professional with an advanced degree.

BUSINESS OWNERS

Business owners always face the question – “What will happen to my business if I get a divorce?”  The answer to the question requires multiple levels of analysis.  First,  Was the business started or acquired during the marriage or prior to the marriage?  If it was started before the marriage, more than likely it will be excluded from the marital estate and not part of the divorce.  If you acquired the business or started it during the marriage, then you need to determine what it is worth.  No, you do not have to sell the business.   Typically the business is valued or appraised.  Then, the value of the business is off-set against other marital assets.  If there are not enough assets, then a payment arraignment is made for the one-half or marital part of the business.   An attorney can properly advise you on the best approach.

 

ADVANCED DEGREE – MEDICAL DEGREE

Doctors and other professional with advanced degrees have questions as to what extent if any their spouse is entitled to their value of the degree.  Just like a small business owner, you must first look at when the degree was acquired.  Was it before the marriage or after the marriage?  If it was acquired before the marriage, then it is not a marital asset.  If it was acquired during the marriage, then part or all would be considered marital.  the court would look at what your spouse has done to help in acquiring the degree.  Did your spouse put you through medical school?  Did he or she care for children and work three jobs so that you could finish your medical degree?  An attorney from Krupp Law Offices P.C. can answer these questions.

 

GRAND RAPIDS DIVORCE ATTORNEYS – BUSINESS OWNER / ADVANCED DEGREES

If you are facing a divorce, a good Grand Rapids divorce attorney is not optional, it is a requirement! Our divorce attorneys can answer your questions with straight talk. Having the right divorce attorney on your side can relieve your stress during this difficult situation. Our attorneys have over 85 years of divorce experience. Our attorneys have extensive divorce trial experience including property settlements, spousal support, alimony, child custody, and other serious divorce related issues. Typical fees to retain attorney for a divorce case can range and from 1,500 dollars to as high as 5,000 dollars. Considering the seriousness of this life changing event, it is extremely important to retain the services of an experienced attorney in the area of divorce.

When you need a Grand Rapids Divorce Attorney, remember to call Krupp Law Offices PC for fast honest advice about your legal problems. Krupp Law Offices P.C. represents clients in cases throughout West Michigan, including the cities of Grand Rapids, Big Rapids, Ionia, Grand Haven, Stanton, Greenville, Wayland, Allegan, Holland, Newaygo, White Cloud, Fremont, Coopersville, Hastings, Middleville, Wyoming, and Rockford including Kent County, Ottawa County, Newaygo County, Ionia County, Mecosta County, Barry County, Montcalm County, and Allegan County Michigan. 

 

Call our office. We can answer your questions with immediate answers.

KRUPP LAW OFFICES P.C.

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or mail@krupplaw.com

DIVORCE TOPICS

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