Division Of Businesses
If you or your spouse owns a business, it will add a layer of complexity to the divorce process. Perhaps it is a family business that has been passed down through one side of the family for generations. Perhaps it is a new venture that you and your spouse created together. Whatever the case may be, you want to work with a lawyer who understands that every situation is different and requires a strategic approach.
At the Law Office of Rebecca Anne Gonzalez in San Antonio, Texas, I will start the process by learning about you, your family and the business. What would you like to happen to the business? Is this a business that you need to protect and keep in the family? Is it your spouse’s business, and you are worried that it is being used to hide income that should be divided during the divorce? Should the business simply be dissolved and liquidated, with the assets divided equally? Perhaps you or your spouse do not fully own the business, but are partners with others who may have their own ideas of what the future holds for the business.
How Much Is The Business Worth?
Determining the value of a business is necessary before it can be divided. However, valuing a business involves much more than simply adding up the business accounts and assets. A typical business is worth more than the equipment it uses, the inventory it has in stock and the money it has in the bank. Most businesses also have some amount of goodwill.
Goodwill refers to the intangible value created by the work put into the business, building it as a brand with returning customers. Determining the goodwill value of a business is no easy task. In most cases, I will bring in trusted experts in business valuation to ensure that the total value of the business is truly ascertained before it is subject to asset division.
Dividing Businesses Of All Kinds
Regardless of whose name is on the business, if it was acquired during the marriage or grew during the marriage, it will be subject to division. The structure of the business and the industry may have an impact. From sole proprietorships to LLCs and LLPs and from restaurants to manufacturing businesses, I can assist with the division of all kinds of businesses.