Liquidating assets in
"Every family's financial picture is comprised of a variety of assets, each of which may need to be valued differently if a liquidation is necessary," said Mott, who is also a certified financial planner and a divorce specialist."Each party in the divorce needs to understand how the liquidation may affect not only the next tax return but also their long-term financial future," she said. I am pleased to report that although the title of Chapter 7 in the Bankruptcy Code is “Liquidation,” no individual debtors are liquidated in a Chapter 7 bankruptcy.The only way to really determine the value of the asset is to put it on the market because an asset is only worth what the market will pay for it."The wife, in this case, [had] to refinance the mortgage to take the husband off the loan, and after all the negotiations and legal costs, the wife finds out that she cannot qualify for the new mortgage." More mistakes occur when the divorcing spouses don't consider the tax implications of different asset classes, Black noted.
Jawbone founder and CEO Hosain Rahman has started a new company called Jawbone Health Hub, which will work on medical software and hardware.
Jawbone, which was once valued as high as billion by private market investors, is the latest pioneer of wearable electronics to throw in the towel.
Last year, smartwatch maker Pebble sold its assets to Fitbit in a fire sale.
Liquidating assets should be a last resort in most cases, because liquidation creates a taxable event.
In United Kingdom and United States law and business, liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the company are redistributed.