Determining The Value Of Your Business
The first step to weighing your business division options is to determine the full value of the business. The law firm of Carolann M. Aschoff, P.C., hires forensic specialists to evaluate large businesses and give a professional assessment of their worth. For smaller businesses, our attorneys can explore other valuation options, as we understand these services can be costly.
To discuss your options for business division, contact our attorneys online. You can also call our Jersey City office at 201-793-7739, our West Caldwell office at 973-200-4892 or our Bayonne office at 201-793-7739.
What Are Your Options For Distribution?
New Jersey is an equitable distribution state, which means your assets will not necessarily be divided 50/50 in a divorce. Rather, each party’s contribution to the business will be assessed. From there, a judge will decide who gets what share of the business’ value.
This value is usually distributed in one of three ways:
- One spouse buys out the business from the other to keep ownership.
- The couple sells the business and splits the value based on equitable distribution.
- The spouses remain business partners even after they have divorced.
In cases where one spouse cannot liquidate assets to buy out the business immediately, it may be possible to agree to a long-term buyout.
Customized Solutions For Your Needs
Although any divorce can be difficult to sort out, businesses add even more complexity to the property division process. The best solution to dividing a business will entirely depend on your case. That is why our lawyers create customized solutions based on each individual client. You will meet one-on-one with an attorney to explain your case and your goals in the divorce so we can offer the representation you need.