Bowden Cyr, PLLC - Attorneys At Law

August 2018 Archives

Divorce and business owners

Minnesota residents who own a business and are getting a divorce should expect that the process of dividing their marital estate will be lengthy and complex. There are a number of issues that arise when one of the assets owned by an individual is a privately owned business. It will be necessary to determine exactly how much the business is worth, if the spouse who owns the business is being completely truthful about the business income and if the valuation of the business will be impacted by any support obligations.

Later-in-life divorces can have specific financial concerns

More and more people in Minnesota and across the country choose to get divorced at later ages. While the divorce rate for all ages and demographics has remained flat or even declined, the rate among Americans over the age of 50 has doubled in the past two decades. There is a number of attributes that can distinguish these so-called "gray divorces" from their younger counterparts. In general, child support and child custody are not at issue, and many divorces among older people are quieter and more amicable.

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Bowden Cyr, PLLC - Attorneys At Law

7825 3rd Street North | Suite 204 | Oakdale, MN 55128 | Phone: 612-254-6409 | Fax: 651-731-5496 | Oakdale Law Office Map