When you are going through a divorce, all marital property will need to be equitably divided between you and your spouse. Marital property includes any assets or ownership interests in a business. Properly valuing a business interest, especially a small, family-owned business, can be complicated and requires the keen insight and experience of an attorney.
The lawyers at Angiuli & Gentile, LLP, on Staten Island, have been helping clients value business interests in divorce for more than 30 years. Led by supervising partner Annamarie Gulino Gentile, our legal team can help you through the process of valuing your or your spouse’s business so we can ensure you receive a fair division in your divorce.
The Business Valuation Process
Dividing business interests in divorce is a two-step process. First, we must determine if the interest is marital. In general, marital property includes assets and debts that were acquired during your marriage. Even if you owned a business prior to your marriage, any increase in value of that business may be considered marital.
Once we have determined if you or your spouse’s business interest is marital, then we must conduct a thorough business valuation. We work with leading business valuation experts in order to ensure that the business is properly assessed, researched and valued.
With decades of experience handling these types of cases and divorce issues, we are skilled at researching and interpreting complex financial data. We are committed to using any and all resources necessary to ensure that your business interests are divided equitably in your divorce.
Professional Licenses And Divorce In New York
In addition to the value of the business itself, if you or your spouse is a doctor, lawyer or other licensed professional, the value of that license may be divided during your divorce. For example, if you earned a law degree during your marriage and are seeking a divorce at the start of your practice, your spouse may be able to claim additional compensation or property to match your increased earning potential.
For Advice About Your Divorce, Call Us
To get tailored advice about how to value a business as part of your divorce, call our Staten Island firm at 347-201-4447 or contact us online. We can help you understand your options and navigate your way through the divorce process in New York.