Commingling of Corporate and Personal Interests
In a divorce action in Utah, there can be corporate business property that is part of the marriage and therefore part of the divorce.
“Parties in divorce action had so commingled their personal and corporate finances that it was appropriate to treat the corporate debt as marital property and apportion it as part of the overall property division pursuant to the equitable alter ego doctrine, and thus, division of debt was not dependent on which party guaranteed which loans.
Former spouses attempting to shield assets from a court ordered property distribution by using a corporate form are especially looked upon with judicial disfavor. Trial court did not abuse its discretion in dividing property after piercing corporate veil on the grounds that the corporation was the husband’s alter ego. Coleman v. Coleman”
Therefore, if there is a business included in your divorce in Utah, you need to make sure that you are able to get a correct accounting to discover the true value of the business and therefore the marriage. This also includes if the spouse is listed on the business. If you do not get a full accounting (forensic audit) you take the risk of not getting what you deserve from your divorce. Divorce can be complicated. Divorce that includes personal assets and businesses just adds to the complications. You need to make sure you are properly protected and get what the law allows. Our divorce lawyers have accounting firms ready to help that understand the complexity of a divorce action.
Experienced Divorce Lawyers
At Arnold, Wadsworth & Coggins Attorneys, our divorce lawyers offer a free consultation in order to earn your business. Our divorce lawyers are experienced in every aspect of a divorce action. If your divorce action needs to go to Trial we are not hesitant to take it and present your case in front of a district court judge. Our firm has two offices to meet your legal needs in Ogden and Salt Lake City. Our divorce attorneys offer free consultations at either office.
