The time to develop an exit strategy is when you form your business partnership or corporation. The exit strategy is an agreement regarding business assets, debts and liability should a partner or another principal no longer be able to, or want to, engage in the business. You can avoid disputes and, ultimately, litigation by anticipating events that can put your business in jeopardy and including clear contractual language that addresses the situations.
It isn't just a house; it's a home. Filled with memories of first steps, birthday parties and holiday celebrations, having to sell your marital home can be one of the toughest aspects of a divorce. In addition to the emotional considerations, your home may also be your highest valued asset and your largest debt.
The individual named as a personal representative plays a crucial role in successfully administering an estate. Often, however, the personal representative performs her or his important duties while grieving the loss of a loved one. In addition, the person named as personal representative may never have been in this position before and may feel overwhelmed.
Your divorce will have an effect on many aspects of your life, including your tax liability. Even your marital status may be a tricky question on your first tax return following your divorce.