Sep 08
If you are seeking a divorce, and you or your spouse own a business, this means valuing the business. Goodwill value must also be determined when trying to value a business. We will discuss how you can value your business if you are getting a divorce. This article will assist you in splitting up the business as you move on with your life. Defining The Property If you want to split up the business, you have two options. You can sell the business to a third party, or...
read moreSep 08
Valuation of a professional practice is rarely a simple process. In many cases, it will be a lengthy and complex one. When divorce is involved, the process can become even more difficult. Here, we will discuss some of the common problems that crop up when valuing a professional practice. Mainly, we will discuss transfer restrictions and how they affect the non-involved spouse, the effects of buy-sell agreements, and dirty tricks that you might run into. Transfer Restricti...
read moreSep 04
This week on the For Better, Worse, or Divorce podcast your hosts Jake and Brian tackle the complex issue of valuing a business for a divorce. They'll be going over the importance of properly valuing your business in a divorce, how to get a valuation, the different methods of valuing the business, and what all of this means to your divorce. The For Better, Worse, or Divorce Podcast is available for download on Apple Podcasts, as well as on SoundCloud and Spotify.
read moreSep 03
Property division during a divorce is always a hot-button issue, but division is more complex if a family-owned business is the primary income generator. When the time comes for the spouses to separate their assets, their business will generally be considered property that must be valued and split. To divide the business, either one party can purchase the interest of the other, or the couple sells the company and shares the profits. In either case, the business must be valuated. Valuations a...
read moreSep 03
When you file for divorce, you have a million things running through your mind. You need to make sure that your children are taken care of. To figure out how spousal maintenance (alimony) will play into your situation. You need to consider the division of debts and assets between you and your spouse. If you or your spouse own a consulting firm, it will be dealt with during the divorce. But how will the court determine how to divide this asset? Which spouse is entitled to what when it comes t...
read moreSep 02
Professionals like doctors, lawyers, dentists, CPAs, architects, and veterinarians face unique challenges when dividing property during a divorce. Often, professional practices are the most valuable assets in divorce settlements and deserve substantial legal attention. Attorneys and accountants must take both tangible and intangible assets into account when arriving at a valuation. While the nature of a practice’s tangible assets (such as property and revenue) may be apparent, intangible a...
read moreAug 30
Understanding what is likely to happen to a business is one of the most critical and complex issues facing business owners during a divorce. A key first question is whether a business will be considered community or separate property. (more…)
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Brian and his staff were great. Brian’s direction and expertise provided me with the legal information relevant for my needs over several years now. He listens and is steadfast which gave me comfort in the courses of action. I highly recommend him.Brian and his staff were great. Brian’s direction and expertise provided me with the legal information...
Larry M.
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