Valuing A Business In A Michigan Divorce

Ownership of a business or professional practice is something that may complicate property division during a divorce. It is often the most valuable asset in the marital estate and the subject of many disputes.

Our lawyers are adept at understanding the special considerations involved in the valuation of your interest in a business and will consult experts when necessary. We are effective negotiators and litigators who will not concede when it comes to protecting your fair share.

Avoid Undervaluation With Attorneys Who Understand Business

In many divorces, one spouse will decide to take or retain complete ownership of the business moving forward. Under Michigan law, the "in" spouse must compensate the "out" spouse for his or her marital share. Before a spouse's marital interest can be determined, the monetary worth of the business must be established.

There are essentially three different approaches to business valuation: the asset, income and market approaches. Although these are the three basic approaches, numerous variables may be considered, and there are several different methods for valuation within each approach.

The intricate nature of these determinations makes it one of the most contested issues in complex financial divorces, and not every divorce lawyer understands the complex analysis involved. For spouses uninvolved with the operation of a business, the undervaluation of a business has the potential to negatively impact the determination of their marital interest.

Protect Your Marital Interest In A Business

The best way to protect your financial future is to have an experienced complex divorce attorney on your side. At Kraayeveld Law Offices, P.C., we are well-versed in the various methods for valuation of a business, have complete understanding of real estate and corporate matters.

Our lawyers will help you determine your goals for future ownership in the business and protect your marital interest should you choose to opt out. Schedule an appointment with him by calling our office in Grand Rapids at 616-426-9644. You can also send us an email with your information.