pjc-family-2024-lib

PJC 205.3

D ISREGARDING C ORPORATE F ORM

PJC 205.3

Disregarding Corporate Identity of Corporation Owned Entirely by Spouses (Question)

QUESTION 1 Should the distinct corporate identity of CORPORATION be disregarded? Answer “Yes” or “No.” Answer: _______________ If you answered “Yes” to Question 1, then answer Questions 2 and 3 and do not answer Question 4 or 5. If you answered “No” to Question 1, then answer Question 4 and do not answer Question 2 or 3. QUESTION 2 What percentage, if any, of each of the following assets of CORPORATION is the separate property of SPOUSE A ? When the distinct corporate identity of a corporation is disregarded, the assets nominally owned by the corporation are owned by a party or by the par ties. Answer by stating the percentage that is the separate property of SPOUSE A and the percentage that is community property. The percentages in your answer must total 100 percent for each asset. To find all or part of an asset to be the separate property of SPOUSE A , you must do so by clear and convincing evi dence. “Clear and convincing evidence” is that measure or degree of proof that produces a firm belief or conviction that the allegations sought to be estab lished are true. Any percentage of an asset that is not the separate property of SPOUSE A is community property. SPOUSE A ’s Community Separate Property Property ASSET A ______________% + ______________% = 100% ASSET B ______________% + ______________% = 100% ASSET C ______________% + ______________% = 100%

88