Business Owner Divorce Issues
Dividing assets and liabilities is a difficult and often contentious part of divorce for any couple. The situation becomes even more complex when business assets are involved. In most cases, each spouse feels entitled to receive something from the business. Whether you own a family business or your spouse does, the best way to protect yourself and the company is by working with an experienced lawyer who understands the issues.
I am Springfield business owner divorce attorney Claudette-Jean Girard, and I have more than a decade of experience handling complex family law issues in central and western Massachusetts. I am a practical person who seeks common-sense results. I make every effort to help clients reach resolutions without going to court. However, I am a skilled trial lawyer who protects clients through litigation in family court whenever necessary.
Locating, Valuing And Dividing A Company’s Assets And Liabilities
A fair and accurate valuation of business property is essential to both parties in a business owner divorce. Only with full and accurate information can we work toward a fair property settlement that both parties can accept.
As a Springfield divorce lawyer, I often work with various business and financial experts to reach a fair valuation. My goal is to account for every asset and liability the company has, which may include:
- Real estate
- Accounts payable and accounts receivable
- Business goodwill
- Appreciation in the value of the company occurring during the marriage
- Any business loans and debts incurred by the entity or by an owner personally
In most cases, both parties will want to keep the business running because it provides steady streams of income. Frequently, one party will buy out the other as part of the property settlement agreement. Sometimes, however, the parties cannot agree on a buyout and the company must be split in some fashion. The profits may need to be divided or the company itself be divided into separate entities. Whatever your situation, you can rely on me to protect your interests and give you honest advice and recommendations throughout the process.
Contact A Northampton Property Valuation Lawyer
The Springfield law office of Claudette-Jean Girard, Attorney at Law, represents business owners and spouses of business owners who are going through a divorce in central and western Massachusetts. To arrange a free 30-minute consultation with an attorney, call 877-622-6089 or
send me an email.