Representing Entertainers and Their Spouses
California is regarded by many as the global center of the entertainment industry, and that industry is a source of income and assets for many people throughout the region. Divorce cases involving entertainment professionals are often complex due to several factors.
At the Diamond Law Firm in Los Angeles, we represent a substantial number of people in the entertainment industry — and their spouses — in divorce cases. To schedule a free initial consultation with one of our experienced family law attorneys, contact us today.
Assessing the Value of Entertainment Business Entities
Entertainment professionals — such as producers, directors, actors, songwriters and musicians — often conduct their affairs through personal service corporations. These unusual entities are treated partially like regular corporations and partly like sources of personal income.
Our attorneys are experienced at addressing the impact of personal service corporations on property division, alimony and child support.
In many cases, the major asset of a personal service corporation is goodwill, meaning the reputations, connections and influence of the company's employee-owners. Putting a net worth on goodwill can be a contentious issue in divorce proceedings.
Mr. Diamond's CPA experience enables him to skillfully evaluate the opinions of our firm's experts and experts retained by opposing parties.
Accounting for Royalties and Similar Types of Income
Another major issue in divorce cases involving entertainment professionals is how royalties and similarly unpredictable — but potentially substantial — sources of income should be dealt with.
The lawyers at our firm are experienced at accounting for income of this sort by, for instance, pursuing Ostler-Smith orders that require percentages of royalties to be distributed as spousal and child support.
Whether you or your spouse is an entertainment professional, don't hesitate to contact us to discuss any unique issues that may be involved in your divorce process.
