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Ely
Ely, Attorney
Category: Business Law
Satisfied Customers: 102601
Experience:  Counselor at Law.
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My wife and I have a business we started 18 years ago. We

Customer Question

My wife and I have a business we started 18 years ago. We are both employed with our firm. If we sell the business and real estate and divide it... Do I have to pay alimony after that?
Submitted: 1 year ago.
Category: Business Law
Expert:  Ely replied 1 year ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

1) What state are you in?

2) Will you be selling the business before the divorce? Or during? Or not sure?

3) Do both of you want to sell? Or you are asking in case the Court forces a sale?

This is not an answer, but an information request. I need this information to answer your question. Please reply, so I can answer your question. Thank you in advance.

Customer: replied 1 year ago.
California
As a settlement of the divorce
She will approve the sale.
Expert:  Ely replied 1 year ago.

Thank you.

There is no mandate that you pay alimony. In fact, she may be forced to pay it. The court shall consider all of the following circumstances: (a) the earning capacity of each party is sufficient to maintain the standard of living established during the marriage, taking into account all of the following: (a) earning capacity (b) the extent to which the supported party helped support the other party in gaining an education or maintaining a career. (c) The supporting party’s assets and ability to pay support. (d) the standard of living during the marriage. (e) The assets and separate property, of each party. (f) The length of the marriage. (g) The ability to gain employment without unduly interfering with the interests of dependent children in the custody of the party. (h) The age and health condition of the parties. (i) history of domestic violence between the parties, including, but not limited to, consideration of emotional distress resulting from domestic violence perpetrated against the supported party by the supporting party, and consideration of any history of violence against the supporting party by the supported party. (j) any tax consequences to each party. (k) The balance of the hardships to each party. (l) The goal that the supported party shall be self-supporting within a reasonable period of time. California Family Code Sec. 4320 et seq.

Assuming that she has a background that will enable to her to find employment and not have a "financial crash," and/or her financial situation is similar to yours at the time of the divorce, then the Court should not order alimony. It is on a case by case basis, however.

I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.

Expert:  Ely replied 1 year ago.

Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never responded or replied positively. I am simply touching base. Let me know. Thanks!