As a large or small business owner who is going through a divorce, you may be wondering how the value of your business as a whole will influence your divorce settlement. There are several factors that can come into play regarding your business as you and your ex begin to discuss child support and custody, alimony, and the division of your marital assets and debts.
Read on to learn more about how the value of your business is calculated and what will happen to your business as part of the equitable distribution process.
As a married couple, the value of your business as a whole will be important, particularly when it comes to the division of your property, debts, and assets. Before anything else, your divorce attorney will need to determine what your business’ fair market value is. Fair market value would be how much your business would be listed for if you were to put it on the market as-is.
Once fair market value has been established, we then review what the value of your business as a whole is. Items including equipment, office supplies, your company’s profits, and more will all contribute to the total value of your business in Pennsylvania.
When you divorce in Pennsylvania, all marital property will be divided equitably. This means that any assets you acquired and debts you accrued throughout your marriage will be fairly distributed. This does not mean that it will be evenly divided, however.
Depending on the circumstances of your case, you may be able to work out an agreement to retain possession of your business if you wish, or other arrangements can possibly be made as we work through the divorce settlement negotiations.
Whether you need to protect your business or need to know how much your spouse’s business is worth as you negotiate the terms of your divorce, having a highly trained PA divorce lawyer at Lisa Marie Vari & Associates, P.C. by your side could help to ensure that you are not taken advantage of. Visit our website or give our firm a call at 1-844-VARI-LAW (827-4529) to schedule your no-obligation consultation.
Facing divorce or another family law issue is tough. At the Pennsylvania family law offices of Lisa Marie Vari & Associates, P.C., our practice is dedicated solely to assisting clients with the needs of today's modern families. Our Pittsburgh family lawyers are devoted to helping our clients avoid prolonged conflict to arrive at solutions that are in the best interests of their families and themselves.Divorce and AnnulmentAlimony Child CustodyChild SupportFathers RightsMothers Rights... View full business profile here: Lisa Marie Vari & Associates, P.C.
