Orange County Business Valuation Attorney
Legal Support for the Division of a Business During Divorce
As part of a divorce, a couple must undergo the property division process. In California, any property that was acquired during the course of the marriage will be considered “community property” and will therefore be divided among both parties equally. If you or your spouse owns a business and it is considered community property, the court will undergo a business valuation to determine how its assets will be apportioned to each spouse.
Having an experienced lawyer on your side can be an invaluable benefit to you as you navigate this complicated process. We can help you protect your business and hard work by ensuring that you properly prepare before the issue goes to court and/or by representing your best interests throughout every step.
When determining how to divide a business’s assets in a divorce, the California courts will consider the following:
- The business’ fixed and intangible assets
- Its accounts receivable
- Its outstanding debts and liabilities
According to an IRS Revenue Ruling, courts are almost always required to also take into consideration a variety of factors, such as, the business’s history, its current success and earning capacity, and more. Accountants and appraisers will work with the court to determine the business’ total value and the financial amount that each spouse will receive. Depending on the circumstances, the court may grant total ownership of the business to one spouse, instead of splitting ownership, as long as he or she pays the other spouse his or her share.
Retain the Services of a Business Valuation Lawyer
If you are facing a divorce that involves the valuation of your business, our skilled Orange County lawyer can walk you through all of your options at this time. Whether you need to consider selling the business or creating a division agreement or a business-partner agreement with your spouse, we are here to guide you toward the most favorable outcomes.
Contact The Law Offices of W. Douglas McKeague today for a free, initial consultation. We can begin preparing a strategy that supports your best interests and the best interests of your company.
"Doug ensured that my interests were protected, my integrity preserved. His warm, calm and professional demeanor instilled trust and confidence."
Doug ensured that my interests were protected, my integrity preserved. His warm, calm and professional demeanor instilled trust and confidence.- Lorre L.
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