Divorce Involving a Family Business, Professional Degree or Similar Assets
Division of property in any divorce can be contentious. However, a divorce that includes valuation of a family business or professional degree can be even tougher than most.
At Brooke & Brady, LLP, we believe that many of the contentious topics indivorce can be resolved amicably when parties to a divorce understand their individual rights and the rights of their spouse. We do our best to educate our clients about the law, and we do not fan the flames of family disputes.
When your spouse or his or her attorney is unwilling to be reasonable, we are always willing and fully prepared to fight aggressively for your rights. However, we have helped many clients protect their rights while resolving property disputes amicably and efficiently.
Dutchess County Business Valuation
There are many issues involved in a family business and divorce situation, including valuation and division. Some of the questions that must be asked include:
- Did one of the spouses own the business prior to marriage?
- Did both spouses make contributions to the success of the business?
- What is the value of the business?
Assessing the value of the business can be very complex. The parties can agree to mutually hire a neutral business evaluator to provide a valuation of the business, or the parties may decide to hire their own individual experts to provide a valuation. Cases involving multiple evaluations will likely result in extensive negotiations and possibly litigation if the parties cannot reach an agreement regarding a fair value of the business.
Division of a Professional Degree
In a divorce involving a professional degree obtained during a marriage, an expert may be hired to examine the financial value of the professional degree. As with business evaluations, the parties may enlist one neutral expert or they may hire separate experts. There are many factors that must be considered when determining the value of a degree as part of the divorce assets subject to equitable division.
If you are getting a divorce and complex property division issues are likely to arise in your case, it is critical to retain an experienced divorce and family law attorney. Our law firm has been handling family law cases for more than 30 years. We focus our practice on Dutchess County, and our Poughkeepsie divorce attorneys have a unique ability to guide our clients in family law matters heard by local courts.
To speak with a divorce lawyer at our firm, contact our law office in Poughkeepsie, New York. To reach our firm, call 845-454-2540, or contact us by e-mail to schedule a free initial consultation today.