How is a Business Split in a Divorce?
Dividing Business Assets in a Divorce. How the Court Will Divide Your Business During Divorce. What You Need to Know When Dividing Your Business in a Divorce.
How is a Business Split in a Divorce? When a business is marital property, the business is awarded to the spouse with greater involvement. The business must be valued, often by a business valuation expert witness. The non-business owner spouse usually receives cash over time as a buy out, other assets such as the marital residence, or alimony. Sometimes, if both spouses work in the business, the business can be continued to be operated as before.
How is a Business Split in a Divorce?
Memphis divorce lawyer, Miles Mason, Sr. JD, CPA presents continuing education to the Chattanooga Tax Practitioners. “Thank you for inviting me.” Mason is the author of the best-selling book, The Forensic Accounting Deskbook, published by the ABA Family Law Section. This updated edition of one the ABA’s most popular resources explains the practice of forensic accounting and business valuation and how to apply it in family law cases. It provides a practice-focused introduction to the core financial concepts in divorce, such as asset identification, classification, and valuation, income determination, expenses, and more.
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