All property must be characterized and valuated as part of the dissolution process. There are many circumstances where one or several businesses exist that belong to the marital community. Unless you had an agreement in place, premarital or post-nuptial, the business will be divided equally as community property.
Some Things To Consider in a Business Asset Division
The attorney needs to determine whether the business is separate or community property before the business can be divided. Once this is decided the attorney needs to evaluate the business’s value. If you have the following documents this can help financial advisers and your attorney when dividing up the business:
– Balance Sheets
– Profit Statements
– Loss Statements
– Net Income
It’s critical that business documentation like contracts, shares, business certificates are kept up to date to avoid continued conflict after the divorce.
Free Phone Consultation With a Chandler Arizona Division of Business Entities Family Law Attorney
We are here to make this entire process as stress free as possible for you. When working with the Law Offices of Louis Lombardo, PC you can expect nothing less than top-notch legal services that fit your needs. Please give us a call at 480-413-9300 for your complimentary phone consultation.