Determining A Businesses Value In A Delaware Divorce
According to Delaware divorce laws when a marriage dissolves all marital property, as well as marital debt, gets distributed. One very common aspect of marital property are business assets, profits and interests that were accumulated during the marriage. When going through a divorce it is imperative that your legal rights, as well as financial interests, are protected. This can be accomplished by retaining an experienced Delaware divorce lawyer with experience handling business valuation cases. Our Delaware family law attorneys possess a wealth of experience with business valuations and serve all of Delaware which includes Wilmington, Newark, Middletown, Dover & Georgetown.
You can contact our New Castle County, Delaware divorce attorneys by clicking here. Serving all of Delaware including NCCO, Kent County & Sussex County, DE.
Designating A Dollar Amount To The Business
Assigning a dollar amount to your business is a very complex task. At our Delaware divorce law firm we will do everything necessary to protect your rights and interests during this trying time. This includes bringing in subject matter experts when determining the true value of your business. These experts can include accountants, financial planners and tax specialists.
When determining the value of your business during a divorce nothing is left to chance. All aspects of your business will be examined. These can include:
Tax information
Financial records
Balance sheets
Equipment lists
Real estate
Intellectual property
Inventory
Spouse’s participation
Delaware Equitable Distribution Laws
Each state in the country has their own property division laws and they are usually 1 of 2 types: community property & equitable distribution. The state of Delaware is an equitable distribution state. equitable distribution, property division is the process of dividing property rights and obligations between spouses during the process of a divorce. Property division may be agreed upon between the spouses through a property settlement, or it may be decided in court during the judicial process of divorce. The process of property division is affected by state laws such as community property laws, definitions of marital contributions, etc.
As Delaware is an equitable distribution state, only property acquired during the course of the marriage is subject to division in divorce proceedings. Some factors considered by Delaware family law courts in a property division case include non-monetary contributions and a list of other factors defined in Delaware law. Some of these factors may be financial or time contribution to the business and financial misconduct by either spouse.
How A Delaware Divorce Attorney Can Help You
Our Wilmington, DE divorce lawyers routinely help Delaware residents who are facing divorce and business valuation is a part of it. To make sure your rights, and financial interests, are protected call our attorneys today. The family law lawyers on our team possess many years experience helping those enduring very difficult family law issues in Delaware and they also offer free consultations.