Jefferson County Divorce Case
As you build a life together during a marriage, the financial assets of both spouses inevitably become intertwined. Parsing out those assets during a divorce may be one of the more complicated parts of the process. For various reasons, business assets or interests tend to be the trickier to divide. Unlike a house or 401k, which can be assigned a value relatively quickly, a business interest might require analysis from a third party expert to determine its fair value. If a your Jefferson County divorce entails division of a business, the lawyers at Plog & Stein, P.C. are well versed in handling cases with complex property division. An adept divorce and property division attorney on our team will be able to help you obtain a proper valuation of your marital business interests and will advocate for you for a fair division of all the martial assets in your case.An Experienced Family Law Team on Your Side
Jefferson County is home to many successful businesses, from smaller mom-and-pop shops to one of its largest employers, Coors Brewing Company in Golden, CO. No matter if your business concern is of the smaller variety or one with many employees and significant material possessions and resources, you need to be able to calculate its marital value in order to divide it in your divorce. Even if you owned the business prior to marriage, any increase in value that occurred during your marriage is considered marital property. In cases like this, the value of the business at the time of marriage as well as its current value will need to be determined. The same holds true for passive and partial business interests as well.
These intricate situations call for the assistance of Jefferson County divorce lawyers with experience dealing with the division of business interests. At Plog & Stein, we can recommend reputable valuation experts who are not only knowledgeable in straight-forward analysis of book value, but also how market factors affect the value of a business. Analyses will generally also entail looking at revenues, profits, and “good will,” which can be quantified into a monetary figure.
Once value is determined, the courts (and parties) will look at a variety of factors to divide the asset. How much effort each spouse has put into the business, what other assets each spouse owns, and which spouse is best equipped to keep the business going are all things the court may take into account. In most cases, the party that has historically been in charge of running the business will keep ownership and have to compensate the other party for their fair share. Of course sale of the business and division of proceeds is also an option.
In a Colorado divorce, judges have the discretion to look at the whole picture and make property division decisions based on “equitable division,” basically, what they deem to be most “fair.” This means the judge has the power to allocate property as he or she sees fit. This is why it is vital to have the right law firm on your side to make the strongest case possible to protect your business interests, whether in or out of the courtroom.Trustworthy Lawyers for Your Jefferson County Divorce
Contact one of our Jefferson County divorce attorneys to discuss the business aspects of your case as soon as possible. We know what it will take to fight for your rights to all your assets during your divorce and will work to ensure your future financial stability. Call us at 303-781-0322 or contact us online to schedule an appointment.