A Successful business

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Alicia Jackson has a successful business that she started twelve years ago and grew from her own skill, time, and interests.  It is a small specialty store called “Things By Alicia”.  She is currently making a profit of $280,000 a year from her business.  The outlook for the company is that it should continue to grow as her online sales through the store have been steadily growing and expanding.

Ten years ago, Alicia met and fell in love with Tobias Tucker.  Tobias worked in computer sales making $85,000 a year.  Over their ten-year marriage, Alicia and Tobias had two children.  The first child, a girl, is now 8 years old.  Their second child, another little girl, is now 6 years old.

Tobias quit his job in computer sales when their first child was born so that he could stay home to devote himself to the care of their child (and then children) so that Alicia could primarily concentrate on the growth of her business which has grown significantly over the last ten years. Alicia’s possessions titled in her individual name prior to the marriage that are still retained by her are:

  • A 1977 Mustang GT500 currently valued at $19,500
  • An heirloom diamond necklace currently valued at $9,000

His possessions prior to the marriage that are still retained by him include:

  • A 2002 Harley Davidson currently valued at $33,000
  • A classic guitar he inherited currently valued at $4,500

Since being married, they have acquired the following that would be significant assets for consideration:

  • A home valued at $650,000 (current outstanding mortgage of $225,000)
  • A 7-year-old minivan currently valued at $23,000 and paid off
  • Savings account with $19,000
  • A 2009 Sea Ray boat currently valued at $16,500 and paid off

Alicia has an additional liability of $150 a month in school loans to be continued for 10 more years.    Alicia is now 42 years old, and Tobias is 38 years old.  They have decided to file for a divorce after several years of growing apart.  The child custody is going to be split 50/50.  The questions at issue are how will their assets be divided and who (if anyone) should receive alimony.

 

 

EXAMPLE FOR MEMORANDUM LAW IS IMPORTANT TRY TO MAKE A 8 PAGES PLEASE:

The attorney has asked you to draft a Memorandum of Law stating what the court will most likely rule based on the law in a determination of equitable distribution and alimony payments when the couple files for divorce.  You should discuss who would receive what and how much based on legal arguments supported by case law and statutes. The type of alimony should be specified as well.  Utilize the law of your home state as support and address each asset/possession and liability mentioned in the directions.

NEED A LOT INFORMATION ABOUT THE DISTRIBUTION AND ALIMONY PAYMENTS WHEN THE COUPLE FILES FOR DIVORCE.