Your ownership of a business may be classified as marital property when equitably dividing the assets in a divorce proceeding. Depending on the specific facts, the court will classify the business interest as marital property, separate property, or as a mixed asset.
When one or both spouses are involved in a closely held family business, the valuation of that business is often a contentious issue. If the business interest is determined to be a marital asset, the court will typically put a value on the respective interests. Determining the proper value of a business can be complicated. If a business interest is potentially involved in your divorce, it is critical for you to have an attorney with both business and divorce experience.
Our lawyers are experienced in dealing with all types of business valuation issues including those associated with sole proprietorships, limited liability companies, partnerships, s-corporations and c-corporations. We will answer all your questions and walk you through the business valuation process to make sure that your interests and hard work is protected.
To set up a meeting to discuss your specific situation, contact us online or call our office locally at 601-957-3101.