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Separation of Businesses | Queens | Brooklyn | New York
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As experienced New York and Nassau County Divorce Attorneys, The Schreck Law Group understands that there is no tougher period of time for a family to endure than a divorce.
In a divorce in which one or both spouses own a business, the business is an asset to be valued in the divorce proceedings. Both parties may have claims on the business property, whether it is a joint partnership or only one spouse owns the business.
The Schreck Law Group has worked with various types of married business owners and has handled intense New York divorce litigation and trials. We offer our clients the personalized service of a boutique law firm and the experience of a high powered New York Divorce Lawyer. Call our Nassau County and Queens offices at (516) 500-1270.
How Business Assets are Divided in New York
Dividing a business asset in a divorce is a very complex process. In order for this to be accomplished, the business must first be appraised. This requires detailed analysis concerning the type of business, the structure of the business and the income generated.
When valuing a business it is vital that you consider more than just the income being generated. A successful business can be assigned value well beyond the tangible assets of the business.
If only one spouse owns the business, it is common that this person will underestimate the value of the business. Therefore, it is always in your best interest to have the business appraised by a professional.
Regardless of the size or income stream of the business it is important to seek the advice of a New York divorce lawyer experienced in complex property division who has worked closely with forensic business accountants and appraisers.
The Schreck Law Group has worked with various types of married business owners and has handled intense New York divorce litigation and trials. We offer our clients the personalized service of a boutique law firm and the experience of a high powered New York Divorce Lawyer. Call our Nassau County and Queens, New York offices at (516) 500-1270.