Business Owner Divorce
If you are like many business owners in Pennsylvania, you invested an almost immeasurable amount of time and energy into your company. The success from your efforts provides security and support for you and your family. Now, faced with the end of your marriage, you are concerned about the future of the business you built and the financial security that it represents for you and your loved ones.
Perhaps you have business partners or co-owners of a professional, S-Corporation or other type of partnership or corporate entity whose interests are also implicated by your impending divorce. Or, perhaps your spouse has insisted that he or she be given control of the business, or has engaged an expert who has supplied an unrealistic valuation of the company. Whether you enjoy a majority or minority ownership interest, your business provides challenging issues relating to its characterization as marital property; as non-marital, separate property of one spouse; or as some combination of each. Determining your income presents concerns not seen in divorce cases that do not involve the self-employed or the closely held business. Savvy litigants in Allentown, Easton, Bethlehem or any surrounding community, turn to Eidelman & Associates when their divorce proceedings involve business ownership. With more than 55 combined years of experience representing a wide variety of business owners and their spouses, we understand what is at stake and how to protect your interests.
Division of Businesses, Business Property, Going Concerns, Closely Held Companies, Professional Associations and Publicly Traded Corporations
It is no easy task to make sense of a business’ bookkeeping and other financial records. Profit and Loss Statements, Balance Sheets, Owner Buy/Sell Agreements, Board Resolutions, Confidential Restraints on Sale, Prior First or Third Party Property Appraisals or Business Valuations, and myriad other financial documents demand the attention of a conscientious attorney skilled in this area of practice. In a divorce, everything associated with the company must be reviewed as regards its impact on the fair market value and the net operating income of the family owned business. Our Allentown lawyers excel in this area, approaching these issues with thoroughness and accuracy, as though it were our own business at stake. With the help of accountants, business valuation experts and other professionals, we will identify and value all relevant property and income, including:
- Cash on account
- Company’s inventory
- Trade secrets and intellectual property (patents, copyrights, trade names)
- Business goodwill
- Depreciation as both cash and non-cash expense characterization
- Commercial real estate
- Business loans and debts
- Shareholder and other owner capital accounts
- Retained earnings
- Owner/shareholder loans to and from the business
Contact an Experienced Allentown, Bethlehem and Easton Business Valuation Divorce Lawyer
To learn more about Eidelman & Associates and our approach to divorce for business owners and their spouses in Pennsylvania, please schedule a confidential consultation with one of our lawyers. You can call our Allentown office at 610-437-7850 or you can contact us online.