In many asset division proceedings, the most difficult part of the process can be determining a fair value for each asset. This can be especially true in cases involving privately held businesses or other complex assets. Having a Dallas divorce attorney with business valuation experience and the ability to resolve sophisticated property division matters is essential.
At the law office of Phillip A. Linder, we provide skillful representation in a wide variety of these cases. We have a complete understanding of the laws surrounding property division, and we know how to approach them in a way that seeks to protect your interests to the fullest possible extent. We enlist the help of valuation experts who can assign an accurate value to each asset so that we have a clear understanding of the total value before division begins.
Understanding Business Division In A Texas Divorce
The division of a privately held business may be one of the most misunderstood aspects of a Texas divorce. There is a strong misconception that, in any divorce involving a privately held business, each spouse is entitled to half of the value of the owning spouse's share. This is only true in cases where the business was established during the marriage. If the business was established before the marriage, it can limit the non owner spouse's claim.
We carefully review each case to determine an accurate value of the business and what portion of the business can be considered community property. There are a number of ways that the division can be handled, including the sale of the business, one spouse "buying out" the other spouse's interest in the business and offsetting the non owner spouse's interest with a larger share of the other community assets. We will advise you on your options and give you our best recommendation about how to proceed.
Contact The Law Office Of Phillip Linder | McKinney Asset Valuation Lawyer
Contact one of our offices to schedule an initial consultation about your business and asset valuation questions. We are available during regular business hours and by appointment at other times. You can reach us by phone at 214-431-4617 in Dallas or at 972-649-6490 in Allen. You can also reach us via email.