High asset divorce attorneys knowledgeable about the impact of divorce on business ownership
Many married couples have business interests that they own. Both spouses are entitled to an equal share of the businesses they own and operate. At Pate & Knott, our Murfreesboro divorce attorneys specialize in helping business owners going through divorce. We find the true value of your business to recover the monetary settlement you deserve.
The importance of finding an accurate business valuation for your Tennessee divorce
Divorce settlements are based on the value of the marital estate (the money and/or assets you and your spouse earned since saying your vows). Finding the value of your marital estate is one of the most complex aspects when a married couple separates. That true value is even harder to find when a business is owned by one or both of the spouses. You need a Murfreesboro business ownership divorce attorney that understand how to obtain a proper business valuation in order to receive the settlement you deserve from your divorce decree. There is often much more value in a business than simply the assets less its liabilities. You and your spouse built a business, and Tennessee law entitles you to gain financial security from it.
Factors that determine how courts divide and valuate businesses
There are many factors that contribute to how much a business is worth and how that value should be split as part of your marital estate. Judges are not necessarily experienced at understanding a business' value. Experienced Murfreesboro business ownership divorce attorneys present the case before the judge in a way that leaves no doubt as to the value of the company and the marital estate. The attorney needs to maximize the true value of the business so that you have the financial resources you need. The factors that impact how a business is assessed in a divorce include:
- The company's assets
- Business liabilities
- The length of the marriage
- Whether the business was started before the marriage began
- The goodwill of the company
- Whether the company continue business as usual after the divorce
- Tax implications
- The structure of the business
- The company's foundation documents
If you are a business owner facing divorce, contact an experienced Murfreesboro divorce attorney for a free consultation
Whether a divorce is imminent or you are contemplating a divorce, when a business is involved, you need to be prepared. Our Murfreesboro divorce attorneys at Pate & Knott offer confidential consultations so you are well-informed. We also have flexible hours for your convenience. Call us at 615-848-1221 or contact us online to schedule an appointment.