El Paso Divorce Lawyer for Business Owners
Many complex divorce cases involve family-owned businesses or cases where one spouse owns a business. Without even being aware of it, spouses can do things during the course of a marriage that can change the way business assets are looked at in a divorce agreement. If your divorce involves business assets, it is important to have a skilled lawyer looking out for your interests.
Board-certified family law attorney Kristina Voorhies Legan, has the resources, including access to other professional experts, to determine the true value of business assets and ensure her clients receive a fair resolution.
To learn more about her practice or to schedule a consultation, call the Law Office of Kristina Voorhies Legan at toll free 915-503-1368.
Determining the Value of Business Property
One of the more challenging aspects of business valuation is assigning tangible value to intangible business assets. For example, issues of professional goodwill versus personal goodwill can come into play. A franchise owner benefits from the goodwill associated with the brand. Likewise, an individual employee can carry personal goodwill. It is important to have an understanding of the true value of this goodwill in order to arrive at a fair settlement.
Is the Business Community Property?
Finding the right answer to this question can make a huge difference in these cases, totaling thousands or even millions of dollars. A number of things can occur during the course of a marriage, such as refinancing, changing the business entity, incorporating the business, etc., that will actually cause the once closely held business to be considered community property in a divorce.