Divorce is a painful process in and of itself, but the contentious nature of marital dissolution becomes even more difficult when a business is owned by one or both of the spouses. However, with the help of a knowledgeable family attorney such as Robert M Garland, it is possible to determine the value of marital property and settle business matters.
Community Versus Separate Property
The business division process begins with characterizing whether a given business is community or separate property. In general, community property refers to anything the spouses earned or invested in after getting married, while separate property involves everything earned or acquired by just one spouse. Separate property often involves property owned by one spouse prior to getting married, but it also may include gifts received by one spouse after getting married, some personal injury awards, some inheritances, and any property that spouses have agreed in writing to keep separate.
Division of property is notoriously complicated, but it becomes even more confusing when a business is thrown into the mix. If the spouses started the business after getting married, associated assets are often deemed community property, unless the spouses indicated otherwise in writing. However, if one spouse started a business before getting married, that business could either be separate or community property, depending on the other spouse’s involvement and other circumstances. Due to the complexities associated with business valuation in a divorce, it is prudent to seek legal counsel from a trusted family attorney such as Robert M Garland. A Certified Family Specialist with an in-depth understanding of the role of business in divorce, Robert M Garland can examine a variety of matters related to business valuation, including the company’s earnings thus far, patterns of growth, real estate value, and debt load, among others.
Business Valuation Services at the Law Office of Robert M Garland
One of the San Diego area’s finest family law litigators, Robert M Garland works extensively with the financial aspects of divorce, especially as they pertain to business division. He recognizes how easy it it for emotion to take over when settling financial matters. Aware of the contentious nature of divorce-related business division, he take the steps necessary to ensure that all negotiations are carried out in a cooperative matter. This — combined to his proactive approach to family law matters — makes him the ideal family lawyer to have at your side as you strive to settle business matters related to your divorce.