Business Valuation and Division in Pennsylvania Divorce
Accurate valuation of a business, especially a privately held business or profession practice, is one of the most complex areas of property division. There are various ways to assess the value of a business. There is also the question of when the value of a business should be assessed.
Experienced Legal Professionals with a Knowledge of Business
At the law office of Bennett & Associates, we have a long history of helping business owning families through the process of divorce. We represent couples who own a business jointly, as well as men and women who own or are married to the owner of a business in Chester County, Delaware County and Montgomery County.
You can have confidence that the legal team at Bennett & Associates understands the issues involved in division of business assets in divorce. Elizabeth Bennett worked with the real estate, tax and business law departments at Dilworth , Parson, Kalish & Kaufman. Elizabeth Bennett has extensive experience in wealth management.
When you need experienced legal guidance regarding the dissolution of a marriage when a family business is involved, contact our Wayne law office to schedule a consultation.
Creative Solutions to Business Asset Division
A business owner you may anticipate some temporary inconvenience during the business valuation process, it is the practice of Pennsylvania family court and our firm to protect the ability of a business owner to maintain and manage his or her business. Since it is the business owner who is the "goose that lays the golden egg" for the family.
The courts recognize that businesses do not always have the liquidity necessary for an immediate pay out of the share of the other spouse without hurting business operations. There are alternatives to an immediate, lump sum payment, such as a note paid over time, a share of the business, or an offset with other assets or in lieu of property. We can help either party arrive at a division of assets that works for the family and for the business.
Fraud and Hidden Business Assets
Fraud can pose a problem in many circumstance, especially privately held companies. There are a number of strategies business owners use to illegally divert marital income and hide assets in a business. Some of the more common methods are over-the-counter transactions that are not recorded or purchasing items for the business that are actually converted to personal use, even transferring assets out of the country.
There are methods to uncover, estimate or reconstruct the diversion of hidden assets and the divorce lawyers at Bennett & Associates will use all means at our disposal to do so to ensure our clients receive a fair and equitable distribution of marital assets as prescribed by law.
Contact our Wayne law office to learn more about how we can help you with the valuation and division of assets of a business.