Los Angeles Attorney Handling Business Valuation and Division in Divorce
Serving Los Angeles & Orange County areas, including Lakewood ▪ Garden Grove
By nature of the legal definition of marriage, spouses have fiduciary duties to each other which, in the event of a divorce, mean that husband and wife must identity and value all assets and debts. Business partners and shareholders also have fiduciary duties to each other. When a business owner is preparing for divorce, it may be necessary to employ forensic accountants to discover information such as the following:
- Was money hidden or siphoned off from the marital estate by way of business funding?
- What is a fair valuation of the business?
- What is a fair but also practical way of dividing marital assets that include business ownership? Can the integrity of the business be preserved while still fulfilling the husband's or wife's fiduciary duty to the divorcing spouse?
Often, a husband or wife owns a business and the other one has a supporting role in that business. A fair division of the business assets in divorce requires an understanding of business finances as well as family law. Business valuation professionals collaborate with the family law attorney of the Advocacy Law Center, APC to prepare business valuation and division plans that will be acceptable in family law court. Contact the law firm through this Web site.
Business valuation and division in California divorces may easily become complex and difficult to settle fairly. To preserve as many assets for the spouses and the business, it is highly advisable for spouses to reach an agreement through settlement negotiations and/or mediation without resorting to litigation in the courtroom. A full-blown battle in divorce court may result in ruination of the business along with the marriage.
Ensure that you and your spouse reach an enforceable business valuation and division agreement by working with a family law attorney experienced in high asset divorces involving business ownership.
Contact the Advocacy Law Center, APC, to schedule a free phone consultation regarding business property division or any aspect of a California divorce. Credit cards are accepted.
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