Marital Property Asset Division’s Impact on Businesses
A crucial part of a separation and divorce is the division of the marital assets, and if part of those assets is a family business, those assets will likely need to be split and distributed. The attorneys at Stroud & Panetti, P.C. work with appraisers, accountants, and other experts to value a business. These professionals can provide a clear picture of the value of a family business and how divestiture or sale in the course of divorce may affect the parties. Our lawyers have handled multiple issues involving closely held family businesses, family partnerships and sole proprietorships. Through this process, we work to protect your interests and provide solutions, so that the distribution of property in a case involving a family-owned business is fair and equitable.
Our practice is concentrated in divorce matters and we have handled many cases requiring the equitable distribution of personal and business property. We take a straightforward approach to the division of marital assets and work carefully to address all of your concerns, including estate planning, so that in the event of death, the equity of the property conveys to the appropriate party. We understand the emotions that accompany a divorce and the concern of equal and fair distribution of marital assets. One of the best ways to determine the fair allocation of property is through a valuation process which is often arduous and meticulous, so you want a knowledgeable and experienced attorney on your side.
It can be difficult to determine the fair market value of a family business, and the equitable distribution of interests can be further complicated when both spouses have worked for or added to the value of the company. We are well-versed family law attorneys. We have extensive experience working with valuation professionals, including business appraisers, forensic accountants and other valuation experts, to identify the actual value of a company. We understand the intricacies of the valuation process and how to interpret an appraisal, and we can guide the parties to an appropriate distribution from a family-owned business.
Stroud & Panetti, P.C. family attorneys are dedicated to protecting our clients’ interests and rights and have been supporting the Winston-Salem area for over twenty-five years. We are experienced and accomplished family law attorneys who provide efficient and effective legal representation to our clients. We listen carefully to the specific details of your case, help you understand the best options that are available, and implement solutions. We explain the best case and worst case scenarios, so the right decisions can be made for both our clients and their families’ futures. Should you be in need of a family law attorney, please call us to schedule a consultation.