In the Commonwealth of Virginia, businesses and their property are part of the marital estate in a divorce, no matter which spouse owns it (or if they both do). All marital property must be divided equally, but valuing business property is not as cut-and-dried as real estate and other property that married couples typically own. Courts will focus on the intrinsic value of a business to determine its worth. This means they will look at a number of factors to determine worth, not just the market value of the business if it were to be sold. The court may also compare the business owner’s income to those of a similar individual. If they make more than the average person, the excess income will be included in the business’s value. It’s a rare occurrence when a business-owning spouse has to sell their business as part of a mediated divorce settlement. They usually are not required to share the day-to-day operation of the business with their future ex, either. But if the business is worth a decent amount, a portion of its value What Happens to Your Business During a Divorce?
may have to be paid to the other spouse in periodic cash payments. Other times, the owning spouse will be left with 100% of the value of the business but will lose more of their other assets not tied to the business. Divorce can be a difficult time for anyone, but it becomes even more challenging for business owners. You’ll have to find ways to manage your business while taking care of any necessary steps in the divorce. To get the most out of your situation, you’ll need to have strong representation by your side. If you’re a business owner who is facing divorce, give our office a call and we will find a way to help you.
Inspired by LovingItVegan.com
VEGANRED VELVETCAKE
SUDOKU
Share this luscious red velvet cake with your sweetheart this Valentine’s Day!
INGREDIENTS
• 2 cups flour • 1 cup white granulated sugar • 1 tsp baking soda • 1/2 tsp salt • 1 tbsp unsweetened cocoa powder • 1 tbsp lemon juice • 1 cup soy milk
• 2 tsp vanilla extract • 1/2 cup canola oil • 1 tbsp distilled white vinegar • 1 tsp red food coloring (gel works best) • Frosting of choice
DIRECTIONS
1. Preheat the oven to 350 F and grease baking pans of choice. Line bottoms with parchment paper. (Two 8-inch round pans work best.) 2. In a large bowl, sift flour and mix in sugar, baking soda, salt, and cocoa powder. 3. In a small bowl, combine lemon juice and soy milk. Leave the mixture to sit for about a minute so it can curdle into buttermilk. 4. Add milk mixture, vanilla, oil, vinegar, and food coloring to the flour mixture, stirring well to break up large clumps. 5. Pour batter into pans and bake for 20 minutes. 6. Cool cakes completely before frosting with icing of choice.
757.852.3000 3
Published by Newsletter Pro • www.NewsletterPro.com
Made with FlippingBook Ebook Creator