Valuing A Business For Divorce Purposes
Every divorce is challenging. However, if you or your ex is a business owner, there is an added layer of complexity that must be addressed. A fair business valuation is essential to ensuring an equitable property division, which is why it is important to seek help from an experienced lawyer who understands how to divide substantial assets.
At the Law Office of Edward Fradkin, LLC, our attorney has been helping people resolve their family law problems in New Jersey for more than 20 years. For help with complex divorce proceedings, call 732-702-0612 to schedule a free initial consultation.
Determining A Proper Value
If a business is undervalued or overvalued, an equitable division of property is not possible. When it comes to determining the proper value of a business, it is often necessary to look beyond an accounting spreadsheet. The true value of a business also involves things such as its actual market value and goodwill which has accumulated over the years. If necessary, we work with experts to help develop a more accurate portrayal of a business’s worth for divorce proceedings.
If the business is owned by both you and your soon-to-be ex, it may be possible to retain joint ownership if you can still maintain your business relationship. However, these cases are rare, and one cannot simply divide a business in half to ensure a fair property division. In some cases, it may be necessary to sell the business and divide the proceeds. In other instances, one party may have to buy out the other’s interest in the business or have to give up other assets to make things equitable. We can help explore your options and let you know what to expect moving forward.
Protect Your Interests. Contact Us For A Free Consultation.
If you are going through a divorce and need help with complex property division issues, speak with us. Schedule a free initial consultation by calling our office in Freehold at 732-702-0612. You may also contact us online.