Dividing Business Assets and Marital Property in Arizona
When one or both spouses holds an ownership interest in a business or professional partnership, the property division issues in their divorce have a way of getting complicated. Similarly, couples who have significant assets or investments may face complexities when dividing marital property at the time of divorce. At the Law Offices of Scott David Stewart, we are experienced in handling the complex division of business assets and marital property at the time of divorce.
Call 928-252-3996 to schedule an appointment with an experienced family law attorney or contact us by e-mail. We are committed to protecting your financial and business interests at the time of divorce.
Business Asset Divisions
Our firm has extensive experience in business asset division, including profit and loss statements, balance sheets, review of business finances, net income versus gross income, and allowable expenses. Whether you want to protect your business or ensure a fair division of property at the time of divorce, we have the experience necessary to protect your rights.
Business valuations are highly fact-intensive, where every industry is different. We are experienced in business valuations in a range of industries, including service, manufacturing, and professional corporations. For sound advice and confident advocacy on business asset valuation, distribution and characterization issues in your divorce, please contact our firm for an immediate consultation or case evaluation. Our lawyers help entrepreneurs, investors, professionals and self-employed individuals navigate the complexities of business asset distribution at the time of divorce.
Characterization of Marital Property and Valuing a Business for Divorce
The first step valuing a business for divorce is the characterization of business assets as community or separate property. Generally speaking, assets acquired before marriage are not subject to division in a divorce. However, the appreciation in value of such assets during the marriage might nevertheless represent community property. The value of the non-owner spouse's contributions to the success of the business might affect the equation as well. The terms of a prenuptial agreement will often address business asset characterization issues. We are experienced in the division of:
- Marital asset division
- Property and debt division
- Business asset distribution
- Interest acquired prior to marriage
- Real estate
- Savings and investments
- Stocks and bonds
The next step once we develop a good idea of what's in and out of the marital community, is to arrive at an accurate valuation of the business. Some businesses, such as medical or accounting practices, include good will. Others like contractors or restaurants, primarily consist of business assets such as office furniture, construction equipment or restaurant fixtures. Sharply opposing views as to the correct approach to valuation problems, of course, can arise according to each spouse's motivation to maximize or minimize the value.
Our experience with complex property division problems in a wide range of situations can protect your interests in cases involving business assets. We not only explain your legal options in clear terms, we also look for ways to achieve your objectives with a minimum of stress and litigation expense.
For more information please call 928-252-3996 or contact us by e-mail to arrange an initial consultation or case evaluation. Our lawyers are dedicated to providing experienced comprehensive legal service to clients in Flagstaff and throughout Northern Arizona.