Valuation of Professional Practices in Preparation for New York Divorce
If you are headed for divorce and either you or your spouse own any kind of business, the business should be "valued" to determine what its overall worth is as part of the marital estate. This information will help you, your attorneys and the courts arrive at a division of property that is equitable and reflects the true value of all assets.
A professional practice is a special kind of business that has unique qualities due to the specialized nature of the profession. Colwell, Colwell & Petroccione, LLP in Albany brings knowledge and experience to the table on behalf of New Yorkers preparing for equitable property division in divorce.
Contact us to schedule a consultation with an experienced family law attorney. Discuss the most reliable method of determining professional practice valuation:
- Doctor's office or medical clinic
- Chiropractic office
- Law office
- Dental practice
- Orthodontist practice
- Accounting service
- Architectural firm
Our family law firm is well qualified to help you place a book and fair market value on your professional practice, taking into consideration any special features such as the following:
- Is the professional practice operating as part of a partnership or consortium involving other doctors, lawyers or accountants?
- Does the professional practice include commercial real estate (the law office or dentist's building)?
- How did the professional practice grow during your marriage — and what are future prospects for continued success and growth?
- How does the value of the professional degree or license itself impact the overall value of the marital estate, including the professional practice as a business?
For a free consultation, call 866-377-0285 or contact us online.
Work with a divorce lawyer who understands the unique characteristics of a professional practice — including liability and income ups and downs. If we represent you in a New York divorce and you have a professional practice, we are prepared to bring in experts as needed to get an accurate understanding of the value of your professional practice. You don't risk anything by giving us a call. All of our clients receive a free initial consultation. To schedule yours, call 866-377-0285 or just contact our office online. We are ready to help.
