If you or your spouse own an interest in business, alone or with others, or if you own a business together, part or all of that business will usually be considered marital property. That does not mean the business must be liquidated or sold, but its value will need to be determined and considered in the division of assets. As a business owner, you must consider how this will affect your company in the short and long run and how your spouse will be compensated for the marital stake.
Work with a lawyer familiar with business valuations and how the Colorado family law courts treat the division of businesses in a divorce. At Hogan Omidi, PC, our Denver property division lawyers work regularly with business owners and the spouses of business owners in the Denver metro area and throughout the state to divide this asset. There are many ways to deal with division of property and assets in a divorce. The team of attorneys at Hogan Omidi PC will work with you to find the right solution for your unique needs.
From Kathleen’s interview for the Masters of Family Law series on ReelLawyers.com
Experience With Valuing All Types Of Businesses
We have experience dealing with the valuation of businesses ranging from companies with small holdings to those worth millions of dollars. We have experience with all business entities, including limited liability companies, partnerships, and corporations. We have dealt with business interests in many sectors, including:
- Professional practices
- Tech startups
- Intellectual property
- Personal brands
- Oil and gas interests
- Cattle herds and farm interests
- Real estate holding companies
Why Is A Business Considered Marital Property?
Any property or asset you or your spouse started or bought into during the marriage is considered marital property. If you or your spouse owned the business prior to getting married, the increase in value during the marriage is considered marital property.
Our attorneys will discuss your goals regarding the business. If you are a business owner, we can discuss ways to keep the business intact. If you are the spouse of the business owner, you may be concerned about such things as how to guard against understated income or overstated expenses affecting the value of the business or how to secure a potential future payout.
We find the most effective way to resolve a divorce quickly and efficiently is through negotiation. Our Denver divorce lawyers work with you to establish your goals and find a settlement with which you and your spouse can live. If this is not possible, we have experienced trial lawyers and will bring your case before a judge. We strive to meet your goals with minimum stress while giving you maximum benefit.
Make Sure Your Business Valuation Is Done Correctly
Call our Denver family law attorneys to schedule a consultation at 303-691-9600 or contact us online. We have offices in Cherry Creek and Aspen and serve clients all over Colorado.