Business Valuations and Equitable Distribution of Property in New York Divorce
Putting a correct dollar value on a business in preparation for divorce often requires the assistance of experts such as economists and accountants. Understanding and explaining how this impacts assets division in your divorce is a job for experienced family law attorneys.
Business valuation for the purpose of equitable distribution of property in a New York divorce is not always a straightforward process. Complicating factors may include the following:
- The business was part of one spouse's premarital property — but then financial transactions were carried out with commingled marital funds during the marriage.
- The business owes more than it is worth.
- One or both spouses share ownership or interests with business partners — family members or otherwise.
- Intangibles such as intellectual property and goodwill constitute a large part of the real value of the business (though difficult to quantify), apart from real estate, equipment, vehicles and stocked goods.
- Market conditions.
- How each spouse contributed to the business before and during the marriage.
We employ the services of experts (economists, forensic accountants) as needed to protect our clients' interests when business valuations are necessary.
For a free consultation with an Albany divorce attorney, call 866-377-0285 or contact us online.
An experienced family law attorney will not waste your time or rack up unnecessary billable hours when handling complex issues such as business valuation, discovery of hidden assets, or retirement accounts. At Colwell, Colwell & Petroccione, LLP, in Albany, we are familiar with the whole gamut of issues that require close attention in a high asset divorce:
- Separate property and debt
- Hidden assets
- Licenses, degrees and enhanced earning capacity
- Professional practice valuation
- Pensions and other retirement accounts
Will You and Your Spouse Seek to Keep the Business Intact? Or Divest and Distribute Assets?
There is no risk involved in contacting a lawyer at Colwell, Colwell & Petroccione, LLP. All clients receive a free initial consultation. To schedule yours, call 866-377-0285 or contact the law office online.
