Businesses & Business Assets
Your business is arguably the most important property you own. A business can represent your entire livelihood, your income, and your future. You have likely dedicated many years of toil and sweat into creating and building your business to make it into what it is today, and you will likely wish to maintain it after your divorce completes.
This means that protecting your business during the property division process is crucial, and that you cannot afford to attempt to protect it alone. At Bilodeau Capalbo, LLC, our Rhode Island divorce attorneys have a vast amount of experience when it comes to property division and asset protection matters during a divorce, and may be able to help you secure your business assets. We take a unique, client-service centered approach that puts your needs and best wishes at the forefront of all our decisions, allowing us to pursue a satisfactory conclusion to your case.
If you need assistance protecting your business in the property division process, call Bilodeau Capalbo, LLC today at 401-300-4055 to schedule your free initial consultation.
In order to divide business assets in a divorce, the court will have to determine which of the assets are considered to be separately owned and which are “marital.” Marital assets are anything that was acquired during the marriage with joint funds, while separate property is anything that was acquired before or outside of the marriage, or through a separate gift.
There are four ways businesses are normally divided in a divorce:
One spouse “buys out” the other by trading other assets or property equal in value for their interests in the business, allowing it to be kept together.
The business remains intact with both spouses agreeing to remain business partners.
The business is sold by a neutral party and the assets acquired from the sale are then divided as part of the property division process.
The business is closed, the assets are liquidated, and the proceeds from the liquidation are then divided as part of the property division process.
Navigating the Intricacies of Business Valuation in High Net Worth Divorces
In high net worth divorce cases, businesses often form a significant part of the marital estate. Their valuation, therefore, is pivotal to securing a fair settlement. At Bilodeau Capalbo, we specialize in accurately determining the current and future value of businesses, leveraging our wealth of legal expertise and comprehensive understanding of financial intricacies.
Expertise in Business Valuation
With a proven record in handling complex asset issues, we bring together our professional skills, experience, and a dedicated team of financial consultants and experts. We work meticulously to analyze your financial estate, considering all relevant factors, including business valuations, asset characterization, tax implications, and other financial details.
Having earned a stellar reputation among family law professionals and opposing attorneys for our proficiency in business valuations, we are the leading choice for individuals seeking the top business valuation and marital property division lawyer in Rhode Island.
Understanding the Specificities of Business Valuations
Business valuation is a nuanced process. Unlike other assets that have clear valuation numbers, businesses require careful consideration of various factors for an accurate valuation.
In addition to tangible assets, we also consider intangible aspects like professional goodwill — the expected continued patronage from existing customers. Although intangible, it forms a crucial part of the total value of marital property assets in the context of a professional practice or business.
With over 15 years of experience in such specialized cases, our legal team at Bilodeau Capalbo has the expertise to handle these intricate valuations with precision and care.
Looking for expert legal representation to ensure a fair business valuation in your high net worth divorce case? Schedule a consultation with Bilodeau Capalbo today 401-300-4055. Our dedicated team is here to guide you through the complexities of business valuation, ensuring your interests are protected every step of the way.