Do You Own A Business? Are You Considering A Divorce?
Since asset division in divorce occurs according to the value of all of the property and assets, the business must be properly valued as well. The process of obtaining a comprehensive business valuation may take some time. It is important to involve a number of professionals, such as business valuation experts and accountants, to ensure all aspects of the business are considered. Assets and liabilities must be accurately determined through careful examination of all paperwork, receipts, transaction records, payroll documents and any other essential documents. Once the overall value is determined, the property and asset division part of the divorce can proceed.
Exploring Options And Alternatives For Division
The way in which business division is best handled is on a case-by-case basis, as each individual has different goals and needs. Most business owners do not wish to close their businesses or break them up in order to satisfy the property division requirements of a divorce. However, it may be possible for us to negotiate other ways in which to handle the division of the business. In some cases, other property and assets may be transferred to the other spouse in lieu of damaging the business. When you meet with me, we can discuss your hope for the future of the business and the possible avenues through which we may be able to meet your goals.