Why You Should Have a Prenuptial Agreement – Internet Businesses
It has become much more common for people to generate income using the internet. It is something that can be done at any time and only requires the amount of commitment that a party is willing to devote to it. This includes monetizing social media accounts, creating niche or craft businesses (i.e. an Etsy store), or receiving creator income for content posting.
Family law practitioners have seen an increase in these businesses, particularly for stay-at-home parents or spouses. What generally starts as a productive use of downtime, or a simple hobby can become a successful business or brand. Does this count as employment? Does this count as reliable income? Is it an asset of the community? The answer is (as always) “it depends.”
It is certainly worthwhile to have a discussion about it, particularly if this is something your partner already engages in (whether it is a side business or hobby). Having specific benchmarks in terms of hours spent, average revenue generated, tax consequences, etc. will save both parties from time-consuming and costly disputes in the future about how to define all of these things and what it means for the parties.
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When choosing a lawyer, consider these factors and take the time to interview multiple candidates. Ask about their experience, fees, and approach to cases. Ask the best way to communicate with them. Trust your instincts and choose a lawyer who you feel both comfortable with and confident in.
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Beresford Booth lawyers are experienced, dedicated professionals, prepared to answer your questions and guide you through the process based on your needs and goals. As a result of our experience, we provide you practical advice and set reasonable expectations for the process. Together, we develop and implement a case strategy based on your goals.
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Family law disputes can be stressful and emotional. Our family law group can take some of the weight off your shoulders. To request a consultation, please contact Beresford Booth at info@beresfordlaw.com or by phone at (425) 776-4100.