Can one of the parties after the division of the marital estate run a competing business? The trial court made the decision in Cesar v. Sundelin.
By Laura Morgan, Family Lawyer Magazine
Trial court dividing the marital estate of parties in divorce action had authority, after awarding family business to husband, to enjoin wife from operating a competing business, in order to protect the goodwill of the existing business; goodwill of business was property subject to equitable distribution, over which trial court had broad authority.
Laura Morgan is a Family Law Consultant. Laura is available for consultation, brief writing and research on family law issues throughout the country. She can be reached through her Web site.
The federal estate and gift tax, imposed at a top bracket of 40% in 2019, generally does not apply to transfers between US spouses. In addition, each person has an exemption from a federal estate, gift, and generation-skipping transfer (GST) taxes. The GST tax is a tax, in addition to the estate or gift tax, payable on transfers in excess of the exemption that skip a generation (for example from a grandparent to a grandchild), and is imposed at the top estate or gift tax rate.