Divorce or Dissolution. During the pendency of divorce or entity dissolution, both parties must adopt one of the following methods of operation: • One of the parties may, with written consent of the other(s) and with XXXXX , operate the XXXXX business, agreeing to deal directly and solely with the other spouse or nonrelinquishing shareholder, partner, or trustee; or • The parties may continue to operate the XXXXX business jointly on a business-as-usual basis, whereby all compensation paid by XXXXX will be paid in the joint names of the distributors or in the name of the entity to be divided as the parties may independently agree between themselves. Under no circumstance will XXXXX split commissions and bonus checks between divorcing spouses or members of dissolving entities. XXXXX will recognize only one (1) downline organization and will issue only one (1) commission check per XXXXX business per commission cycle. Commission checks shall always be issued to the same individual or entity. In the event that parties of a divorce or a dissolution proceeding are unable to resolve a dispute over the disposition of commissions and ownership of the business, the Distributor Agreement shall be involuntarily cancelled.
Divorce or Dissolution. During the pendency of divorce or entity dissolution affecting any Member, the parties thereto must adopt one of the following methods of operation: • One of the parties may, with written consent of the other(s), operate the Velovita business whereby the relinquishing spouse, shareholders, members, partners or trustee authorize Velovita to deal directly and solely with the other spouse or non-relinquishing shareholder, partner, or trustee. • The parties may continue to operate the Velovita business jointly on a business- as-usual basis, whereby all compensation paid by Xxxxxxxx will be paid in the joint names of the Member or on the names of the entity to be divided as the parties may independently agree between themselves. • Under no circumstance will Velovita split commissions and bonus checks be- tween divorcing spouses or members of dissolving entities. Velovita will recog- nize only one (1) individual or organization and will issue only one (1) commis- sion check per Velovita business per commission cycle. Commission checks shall always be issued to the same individual or entity. In the event that parties of a divorce or dissolution proceedings are unable to resolve a dispute over the dis- position of commissions and ownership of the business, the Agreement shall be involuntarily cancelled. If a former spouse or former entity affiliate has completely relinquished all rights to his/ her original Velovita business he/she is therefore free to enroll under any enroller of his/ her choosing, so long as he/she meets the waiting period set forth by Xxxxxxxx. In such a case, however, the former spouse or party shall have no rights to any Member in his/her organization or any former Member.
Divorce or Dissolution. If you inform us of your pending divorce or business affiliation dissolution, we advise all parties to seek independent tax advice. You may have conflicting interests, and this agreement also serves as a conflict of interest waiver. We may not be able to advise either of you until your divorce is finalized. For example, your income tax return filing status is an item about which we will need instruction. Electing a filing status of married filing jointly establishes joint liability for taxes owed and requires that certain tax-related decisions be made prior to the preparation of income tax returns. Consequently, we will require a letter of instruction from both of your divorce attorneys identifying items needed to prepare your tax return and your agreement to same before the tax returns can be prepared. In the event that you elect to file separate tax returns, you will both be required to sign new engagement letters prior to the preparation of your returns. CPA Firm Responsibilities Unless otherwise noted, we will perform our services in accordance with the Statements on Standards for Tax Services (“SSTSs”) issued by the American Institute of Certified Public Accountants (“AICPA”) and U.S. Treasury Department Circular 230 (“Circular 230”). It is our duty to perform services with the same standard of care that a reasonable income tax preparer would exercise in this type of engagement. It is your responsibility to safeguard your assets and maintain accurate records pertaining to transactions. We will not hold your property in trust for you, or otherwise accept fiduciary duties in the performance of the engagement. We will prepare the returns using the appropriate Forms (1120S, 1120, 1065, 1041) for business and trust returns as directed by you. Filing status for Individual tax returns will be based upon prior year filing status (single, married filing jointly, married filing separately, head of household or qualifying widow[er] with dependent child). If your filing status has changed, you wish to change your filing status, or you have questions about your filing status, please contact us immediately. *Confidentiality If consulting or tax returns prepared in connection with this engagement are joint or filed using the married filing jointly filing status, both spouses are deemed to be clients of the firm under the terms of this agreement. Both individuals acknowledge that there is no expectation of privacy from the other concerning our services in connection ...
Divorce or Dissolution. During the pendency of divorce or entity dissolution, both parties must adopt one of the following methods of operation: • One of the parties may, with written consent of the other(s) and with BF International , operate the BF International business, agreeing to deal directly and solely with the other spouse or no relinquishing shareholder, partner, or trustee; or • The parties may continue to operate the BF International business jointly on a business-as-usual basis, whereby all compensation paid by BF International will be paid in the joint names of the distributors or in the name of the entity to be divided as the parties may independently agree between themselves. Under no circumstance will BF International split commissions and bonus checks between divorcing spouses or members of dissolving entities. BF International will recognize only one (1) downline organization and will issue only one (1) commission check per BF International business per commission cycle. Commission checks shall always be issued to the same individual or entity. In the event that parties of a divorce or a dissolution proceeding are unable to resolve a dispute over the disposition of commissions and ownership of the business, the Distributor Agreement shall be involuntarily cancelled.
Divorce or Dissolution. During the pendency of divorce or entity dissolution, both parties must adopt one of the following methods of operation:
