Recent posts on this blog dealt with various property division issues, including allocating debts and dividing assets. In addition, property division issues include whether it is worthwhile to keep the family home after a divorce or whether to sell it instead. Today, we will consider one final issue, that of business valuation and how retaining a Kentucky divorce attorney can be useful in such an endeavor.
Business valuation is an important part of a divorce, whether the spouses jointly own a small business or only one of them has an ownership interest. In these situations, before the couple can start negotiations or take the matter to court, they need to have a good understanding of what that business is worth. Therefore, it may be a good idea to obtain an appraisal by a neutral professional, rather than simply taking one spouse's word regarding the value of the business. This is because, per Kentucky law, a business owned while the couple was married may be deemed marital property, and thus, subject to the property division process. In some cases, this may be true, even if only one spouse was involved in the operation of the business.
Attorney Louis P. Winner has assisted many Kentucky couples with business valuation. He has helped clients obtain an accurate appraisal of what their business is worth. He collaborates with other professionals to examine the business's finances to come to a fair appraisal of the business's worth. When it comes to high-asset divorce cases, it is important for each spouse to have his or her interests protected. Attorney Louis P. Winner is committed to helping his clients with both their immediate financial needs, as well as their long-term financial goals.
Dividing a small business in a divorce can be a complex endeavor, and obtaining an accurate appraisal is crucial. The following business valuation overview may be of interest to couples that have decided to divorce and own a business together.