Many people do not like to mix their business and their personal life, but sometimes in a divorce action, your business may become one of the assets that are considered when property division is negotiated. This usually applies to people who are part of a family-owned and -operated business or those who own a small business. Whether you are the business owner or a spouse, it is essential that you are represented by a Minnesota divorce attorney who is familiar with business valuation and who can protect your interests and goals during the divorce process.
At de Beer & Associates, we have been dealing with issues surrounding small-business valuation since founding our firm more than 20 years ago. We adamantly believe that understanding Minnesota laws and judges as they pertain to businesses and divorce actions is crucial to providing these types of clients with viable options when trying to achieve an amicable and fair settlement agreement or trial outcome. Contact us today to schedule a free strategic consultation if you have questions concerning business valuation during a divorce proceeding.
Our Minneapolis property division lawyers can help you if you have questions regarding whether a small business should be considered one of the assets to be negotiated as part of the property division aspect in your divorce action. We can help ensure a business valuation is conducted by a properly credentialed business appraiser to figure out the business's true value.
Our St. Paul business valuation lawyer will make sure to effectively analyze all of the following issues when scrutinizing a small business:
- Comparing business valuation estimates arrived at through market comparison, adjusted book value, income approach and liquidation value models
- What expenses are reasonable to the conducting of the business?
- Are all of the business practices profitable and ethical?
- Is marital money being funneled into the business to keep it out of settlement negotiations
- Who are the other interested parties in the business that need to be protected or questioned as part of the divorce action, such as investors, partners, customers, etc.?
- Are all of the tax documents in order and is there any evidence of fraud, hidden assets, co-mingled funds or questionable accounting practices?
We know how to use our experts and their reports to help foster an appropriate negotiation strategy. This information will also be evaluated by the court to help decide how to split, dissolve, liquidate or award a monetary amount to the parties when reaching a decision about property division. We will structure strong arguments that clearly present your side to the court.
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Call us at (651) 714-2378 or (651) 714-2378 to schedule a free consultation. You can also contact us by email to schedule a free strategy consultation at either our Edina or Lake Elmo offices.