My former husband is a 50% business owner. He is basing his income on his wages only, and not including his "dividends", which are another 25% of his income. But he is an owner and he decides how much he takes in wages, and how much he takes in dividends. Is this legal? Shouldn't his income be based on his gross earnings?
2 Answers from Attorneys
Hello. You state that your issue relates to a family law matter. Therefore, you should confer privately with an attorney who can then assist you with your particular legal issues with your former husband. This website provides only general information, not the complex and detailed legal advice of which you presumably are in need. Some attorneys are available seven days for emergency legal needs. Many attorneys will confer initially at no charge. Then, if legal work is performed, some attorneys will provide a reduced fee for financial hardship. Some attorneys may also assist you in limited scope manner to conserve legal costs. All the best.
There is a strong argument that his income would encompass any profit from the business that could be dispensed as part of a dividend. Certainly, the historic wages and dividends received would be strong evidence of income.
You should retain legal counsel. For a consultation call 612-240-8005.