Getting Divorced? Will You Know What Your Business Assets Are Worth?
Ownership in a family business is often one of the most financially complex issues facing divorcing spouses. Generally, one of the partners in the marriage has an upper hand in understanding the value of the business, including financial assets, prospective income over a period of time and debt owed. If you are the owner of a business property, having the value of the business determined fairly for settlement or judgment purposes is the best way to protect your financial interests.
"California is a community property state. Unless there is a specific prenuptial agreement in place, divorcing spouses will share equally in the value of business holdings and debt, to include including the full future value. Make sure you have experienced attorneys representing your financial interests." — Family law attorney Misty Lauby
The California family law attorneys of Fernandez & Lauby LLP have been representing business owners in complex divorce cases since we opened our doors in 1998. Our team of family law attorneys has extensive experience working with business valuation experts and accountants to determine the full and true value of personal business property in Southern California or elsewhere in the United States and offshore.
Some Things You May Not Have Thought Of
When it comes to negotiating a fair settlement for dividing your marriage assets, many people overlook some important financial factors relating to business valuation.
These complex financial issues may include:
- The projected growth of business revenues over time
- State and federal tax issues, debt and write-offs
- Ownership by shareholders and business partners
- Blue sky value, client list for professional practices
- Business debt and future financial obligations
- Real estate value, hardware and equipment value
- Value of intellectual property owned by the business
Knowing the right business valuation experts to do a full evaluation of the value of your family business is critical to protecting your interests in a divorce settlement. You can be assured that your lawyer will work diligently with top professionals throughout the settlement mediation process. If a trial becomes necessary, you have an experienced team of litigation professionals fighting to protect your rights in court.
No Cost Initial Consultation • Three Convenient Offices • Se Habla Español
Contact one of our three convenient offices in Southern California to schedule a consultation about your business valuation needs.
