Countless people throughout Ventura County own stocks, bonds or their own business. But what happens to those assets when a couple goes through a divorce? If a couple owns a business or significant business interests, whether started during the marriage or before, that business quickly becomes the focal point of any division of assets. If the business was started during the marriage, it is considered community property in the state of California, and the value of the business will be divided equitably. If the business was started before the marriage, the founding spouse will likely be granted the business but may be obligated to give the other spouse interest to cover business growth during the span of the marriage.
Questions on business valuation or division after a divorce in Ventura County? Call 805-379-4550 or contact an experienced Westlake Village business valuation attorney online to schedule an initial consultation to discuss your needs.
At the Law Offices of Stephanie L. Mahdavi, we have spent more than a decade assisting small-business owners and spouses of business owners in accurately valuing and dividing businesses and professional practices. A certified specialist in family law, Westlake Village business valuation attorney Stephanie L. Mahdavi understands the complexities and nuances of doing this correctly and protecting the interests of her clients. Our California firm is always focused on an efficient and cost-effective resolution or settlement, but if the matter is disputed and requires litigation, we are prepared to protect your interests.
Two main elements will be evaluated: the value of the business and the income available for support from that business. Our property division attorneys in Westlake Village work with experts and forensic accountants to discover and characterize all assets associated with the business and provide an accurate value.
From the beginning of the division, both sides are responsible to provide paperwork and full disclosure of assets, turning over all statements and financial records. Both parties’ representation will be conducting discovery to find any undisclosed assets. If you are found to be hiding assets or withholding financial reporting, that asset could be awarded to your spouse as a penalty.
Our Westlake Village business valuation attorneys work diligently to protect your interests and the investments that you have made into the business, whether as the primary owner or the spouse of the owner.
Divorce can often get messy. It is vital to select a divorce attorney that can protect your business interests. Westlake Village business valuation attorney Stephanie L. Mahdavi utilizes an aggressive and comprehensive approach to help place each client in the best position to succeed. To schedule a initial consultation and discuss your property division or division of a business or corporation, please contact our law offices today at 805-379-4550 or by sending us an email.