The Process of Valuing and Dividing a Business
When a marital estate includes a business interest, it is important that the attorney handling the divorce understands the valuation process in order to analyze the business valuation reports and to conduct effective direct and cross-examinations should the matter go to a hearing or trial. Business interests are considered property interests. If a business is started during the marriage, it is likely that the entire business interest will be considered marital property, unless the parties entered into a valid agreement excluding the business interest from the marital estate. If a spouse comes into the marriage with a business interest, any increase in value of that business interest may be considered marital property for purposes of equitable distribution.
How We Can Help You Protect Your Interests When Dividing Valuable Assets
Given the complexity of the various business valuation methods, you need a representation that is equipped with the experience and understanding to protect you, and that will advocate for your best interests. The attorneys of Cognetti Law Group, located near Harrisburg, Pennsylvania, draw upon over 100 years of combined experience and keen business understanding to thoroughly prepare a strategy that protects your business interests. Our attorneys work with financial experts and witnesses to clearly demonstrate the value of the business assets that are to be included or excluded in the court’s decision. Where there has been a commingling of business assets with personal assets, we will trace those funds back to the source to determine which assets are marital, premarital, exempt, or otherwise separate. This includes assets and holdings from all forms of family-owned businesses, franchises, investments, and professional practices.
Get a Strong and Sophisticated Advocate on Your Side
We understand the stresses a divorce can put on a business owner. With everything you have become accustomed to, or with everything you have worked for on the line, it is important that you have sophisticated representation on your side, protecting your interests, your business, its operations, and your financial future. We also understand that you may have grown dependent on your spouse’s business income, and we will work hard to ensure that you receive what you are entitled to. When complex valuation issues are at stake, clients of our firm can be confident knowing that an experienced legal team led by veteran attorneys Maria Cognetti and Dave Schanbacher is committed to finding a fair solution. Ms. Cognetti and her team use their knowledge of complicated financial considerations to assert our clients’ interests effectively. To arrange an initial consultation to discuss how a lawyer handling business valuation can work to value and divide your business interests properly, please contact our firm today at 717-909-4060.
Handling Professional Practices in Divorce
Divorce and the division of assets can be a highly complicated matter for professionals and business owners who have spent years or even decades building their professional practice. Doctors, dentists, accountants, attorneys, and other licensed professionals may face the equitable division of their professional practice or a less than ideal financial settlement as part of their divorce. These highly complex cases require the assistance of an experienced family law attorney.
Exceptional Lawyers Representing Professionals
At Cognetti Law Group — located near Harrisburg, Pennsylvania — we have dedicated over 41 years to family law practice, and our attorneys have the experience and skill needed to protect your livelihood and ensure you receive your fair share of assets.
Division of Professional Practices
In any case involving a professional practice, the first step is to determine whether the practice is marital property and, thus, subject to equitable division. If it is determined that the business is marital property, it is critical for the business to be properly valued. This requires extensive examination of the practice’s worth, its assets, physical property belonging to the practice, and other assets held by the entity. There are often arguments on both sides concerning which assets should be included in this valuation and claims that assets are being hidden or misconstrued. Our firm works closely with a range of financial experts who offer knowledgeable valuation services and correctly determine the value of complex assets. Because of our skill and reputation for success in court, we are often able to settle matters to clients’ satisfaction without the time and cost of a court hearing. If the matter must go to court, however, you can trust our record of success to protect your interests and achieve the best possible outcome. To arrange an initial consultation to discuss your professional practice and how a divorce attorney for doctors can protect your interests, please contact our Cumberland County law firm today at 717-909-4060.