Hello! My husband and I run a business from our home together. It’s a sole proprietorship under my name for tax purposes; however, if we get a divorce, will I be faced with that as my income in calculating alimony/child support? The business would have to remain primarily with whoever stays within the home.
Secondly, at what point in the divorce process would one want to have their house appraised for asset calculations? Thank you!
If you kept the business in the divorce, and you both worked in the business during the marriage, it would not be reasonable to attribute all income to be attributed solely to you when the income was generated based on the efforts of both spouses and now it will be only on you.
You will want to have a house appraised prior to a mediation or a court date so you can have an accurate marital value before you attempt to settle.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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