Upon Divorce, An Accurate Business Valuation Is Essential But Can Be Complex
In a Massachusetts divorce, family businesses are almost always subject to property division. Any property that is earned or gained during the duration of the marriage will need to be divided equitably. However, this is not always an easy task.
There are many legal and financial steps involved in the process of dividing a business in divorce. The process starts with an accurate business valuation.
If you are a business owner who is facing divorce in Massachusetts, it is important to work with an attorney who has specific experience representing divorcing business owners. At the Law Office of Leila J. Wons, P.C., we have the resources necessary to accurately value your business, ultimately working to divide your business assets and develop a plan for the future of your business.
We Work With Experts To Determine Business Valuations
We work with accountants and financial experts during the financial discovery process to ensure that all business assets and debts are accounted for. Working per Massachusetts’ equitable distribution guidelines, our goal is to work toward a business division that is fair and equitable — which does not necessarily mean equal. There are a multitude of factors that must be considered, and we will use our resources to come up with innovative and creative solutions that fit your needs.
We represent owners of all types of businesses:
- Private practices (lawyers, accountants, doctors, dentists, chiropractors)
- Online business owners
- Franchise owners
- Restaurant and store owners
- Multigenerational business owners
- Owners of other types of businesses
The future of your business: It is important to discuss your current and long-term business goals with your divorce attorney. Do you want to sell your portion of the business? Do you want to continue operating the business? Who will control business assets? These are important questions that should be considered when determining how your business will look post-divorce.