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Court Should Not Have Classified A Business Established During The Marriage As Non-Marital

September 4, 2015 by  
Filed under Uncategorized

 

 

In Niekamp v. Niekamp, the Second District Court of Appeals held that the Wife’s music studio business which was established during the marriage should not have been classified as a non-marital asset.  Instead, it should have been classified as a marital asset and valued for the purposes of equitable distribution excluding the goodwill due to the involvement of the Wife in the business.

For equitable distribution purposes in a divorce, assets and liabilities need to be classified as marital or non-marital, valued appropriately under the law based on evidence presented and divided accordingly.  It is important to understand the applicable law regarding classification and valuation and present the right evidence if the correct result is to be obtained.

If you need to talk to a lawyer or attorney about your divorce, the division of assets and liabilities, the classification of marital and non-marital property and its valuation under the law contact our office to arrange a consultation on (786)539-4935

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