Obtaining the true value of a business prior to divorce | Lane & Lane, LLC
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Obtaining the true value of a business prior to divorce

Upon deciding to dissolve a marriage, business owners in New Jersey and elsewhere may be wondering what will happen to the company in the process. If the business, or at least a portion thereof, is deemed marital property, it will be subjected to the process of property division during divorce proceedings. To prepare for what comes next, business owners may find it vital to obtain the proper value of the business.

Much like all other marital assets, obtaining the true value of a business is the first step to forming a strategy for property division negotiations. This process includes steps such as determining the overall value of the company's assets and liabilities and obtaining a record of previous earnings. Combining these steps with a projection of future revenue will help owners better understand the overall value of their company.

Knowing the true value of the company can help an owner better prepare to make informed decisions about the future of the business. During divorce, business owners may have a few options to choose from, such as continuing to work together, selling the company and splitting the proceeds or negotiating a buyout. The value of the company could influence which decision an owner feels will provide the healthiest outcome.

Business owners who are facing divorce may have a variety of difficult decisions to make, and they might be uncertain of where to turn for guidance. Fortunately, there are attorneys that can provide a person with advice on every crucial aspect of divorce and help him or her understand all the available options. An attorney can help a client in New Jersey make informed decisions regarding the future of his or her business during legal proceedings.

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