Trial court did not abuse its discretion in determining that the closely held corporation’s payment of husband’s salary constituted its primary source of value to both parties and, therefore, awarding the business to husband; any cash that wife might have received from a share of the liquidation proceeds of corporation was more than offset by the court’s order that husband pay the parties’ entire mortgages totaling over $5,000 per month and spousal support of $1,000 per month, payments that, when annualized, constituted nearly 80% of husband’s pretax wages.
http://www.courts.maine.gov/opinions_orders/supreme/lawcourt/2014/14me112st.pdf
Laura W. Morgan is the owner and operator at Family Law Consulting in Charlottesville, Virginia.Laura is available for consultation, brief writing and research on family law issues throughout the country. She can be reached through her website. www.famlawconsult.com
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