Business Owners and Divorce

November 7, 2023

Business owners understand risk. Though there’s no guarantee that your business is going to succeed, divorce adds a whole new level of uncertainty for business owners.

How Does My Business Impact Child Support?

Child Support Doc

In order to make sure that child support is properly calculated, and that each child’s needs are adequately provided for, it’s important that the courts have a clear picture of your finances as a business owner. The income generated by your business will be factored into child support calculations. There are no simple answers, but experience can provide some indication of what to expect.

The best way to ensure that your child support payments are proportional to your income is to provide complete and accurate financial statements. If your income regularly fluctuates, do not imply that one particular statement is indicative of how they all look.

If you can provide accurate documentation that proves where your money is coming from and what it is going to every month, you’ll be putting your best foot forward with the court and help to ensure that the child support payment amounts that the court orders are calculated properly. With accurate documentation provided, your attorney will be able to work towards a reasonable resolution that respects your family and your business.

Child support payment amounts are typically calculated by the court based on the obligor’s net monthly income, subject to statutory guidelines. In limited circumstances, the court may deviate from these guidelines.

Approaching Divorce Negotiations as a Business Owner

Divorce Negotiations

In the midst of a divorce, feelings of uncertainty and fear are normal, especially when there is a business on the line, but those feelings don’t need to take center stage when all parties demonstrate a commitment to effective collaboration.

A willingness to approach divorce negotiations with an open mind and the goal of a mutually beneficial division of assets as well as in matters related to child support is also important in achieving a settlement that all parties can agree on. One thing you can do as a business owner that can make this easier is to keep your business and personal finances completely separate. If you can provide clear documentation that shows your business is not connected to your personal assets aside from the regular paychecks that the business pays you, this reported income should form the basis of calculations of child support.

The farther apart you keep your personal and business finances, the better off you’ll be.

By Alexandra “Lexie” Rigden

Alexandra “Lexie” Rigden understands that family law clients face unique challenges mentally, emotionally, and financially. Rigden, Lieberman & Mignogna, P.A. handles all stages of family law litigation, including trials, emergency court motions, as well as pre and post judgment applications. Every case is different, and Lexie Rigden & Ronald G. Lieberman will work to achieve the best outcome for clients whether it involves litigation or settlement. Request a consultation to discuss your case further.

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8000 Sagemore Drive Suite 8202
Marlton, NJ 08053

(856) 890-9400

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Gillian
Divorce & Restraining Order
Lexie has been my attorney since 2018. I retained her when I filed for divorce and again when I needed to obtain a restraining order. She is the best of the best. She is professional, honest, and thorough. I would highly recommend her.
February 15, 2022
Gillian
Divorce & Restraining Order
Lexie has been my attorney since 2018. I retained her when I filed for divorce and again when I needed to obtain a restraining order. She is the best of the best. She is professional, honest, and thorough. I would highly recommend her.
February 15, 2022

Gillian
Gillian
Anonymous "J"
Do yourself a favor and hire Alexandra
Alexandra came as a recommendation from an attorney friend and she was spot on. Alexandra kept me informed through every step of the process during such a difficult time in my life. She explained things in detail and always had my best interest in mind, even when I may not have realized it. As my title says, do yourself a favor and hire Alexandra.
September 7, 2022
Anonymous "J"
Do yourself a favor and hire Alexandra
Alexandra came as a recommendation from an attorney friend and she was spot on. Alexandra kept me informed through every step of the process during such a difficult time in my life. She explained things in detail and always had my best interest in mind, even when I may not have realized it. As my title says, do yourself a favor and hire Alexandra.
September 7, 2022

Anonymous "J"
Anonymous "J"
Ryan D.
True 5 star Lawyer
Alexandra is by far the best lawyer I retained. She did not waste anytime with me or try and drag out the situation for more money. Straight and to the point. Alexandra knows the facts that count for your case and is prepared and ready to fight every inch for you. She also is passionate and listens to you in completely so she can better understand what you are going through. I absolutely recommend Alexandra Kardon Rigden for family law or a DV case.
May 5, 2022
Ryan D.
True 5 star Lawyer
Alexandra is by far the best lawyer I retained. She did not waste anytime with me or try and drag out the situation for more money. Straight and to the point. Alexandra knows the facts that count for your case and is prepared and ready to fight every inch for you. She also is passionate and listens to you in completely so she can better understand what you are going through. I absolutely recommend Alexandra Kardon Rigden for family law or a DV case.
May 5, 2022

Ryan D.
Ryan D.

 (856) 890-9400

8000 Sagemore Drive Suite 8202
Marlton, NJ 08053