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The Role Of Business Assets In Property Division
Business ownership and self-employment are part of the American dream. However, when a marriage ends, the assets of a business held by one or both spouses can impact the overall value of the marital estate that must be divided at the time of divorce. The attorneys at The Ramage Law Group help our clients understand the long-term implications of asset division decisions. Whether the business in question is a one-person solo practice or a multinational corporation, we take the time to understand the role it plays in the couple’s asset picture and the best strategies to provide for an optimal division of value.
How Is A Company’s Worth Calculated?
If you or your spouse own a closely held corporation or other business, your divorce attorney will likely recommend that the business be assessed by a specialist who does business valuations. Beyond the book value of the business (its assets minus its liabilities), there are many other factors to be considered, all of which can play a role in determining its true worth:
- The likely sales price if the business property is handed over to another owner
- How the value of the company compares to other similar operations in the area
- The projected future earnings of the company
- The business’s “goodwill factor,” which is an estimation of the company’s reputation in the community it serves
Business valuation is challenging even if the divorcing spouses are on good terms and collaborating on their divorce settlement. When a divorce is filled with conflict, it is possible that one party may use the business to hide assets or otherwise act fraudulently. If you have concerns about your spouse’s business activities, our legal team will use our network of experts to investigate how these issues could impact your divorce strategy.
Learn More About Business Asset Division
The Ramage Law Group will protect your rights to a fair division of business assets in a divorce. We embrace complex cases and search for innovative solutions. We work with family law clients from across north Dallas and Collin and Denton counties, including the cities of Denton, Frisco, McKinney, Plano and Allen, Texas. Call 469-207-1079 today to set up a case consultation, or use our online contact form to get in touch.