When a couple in Upper Arlington decides to end their marriage, there are often challenging issues that must be resolved such as the division of substantial assets, or the disposition of the ownership of a professional practice or closely held business. How are these interests divided? The valuation of a business interest or professional practice is quite legally complex.
For example, many physician practices have corporate documents that attempt to assign a very low valuation for their share in the practice in the event of a divorce (i.e. $30,000). The actual value of ownership in a medical or professional practice is usually significantly higher. How do you establish the real value of business ownership or interest in a professional practice so that the marital equity can be appropriately divided?
I have more than 30 years of experience in cases that involve substantial assets and business, and they often require the services of skilled independent professionals such as forensic accountants. There are genuine issues related to the value of the service of the professional or business owner, and it is important to work with a professional who will protect your interests. There are tax ramifications to issues such as property division and support payments, and in some cases each party is able to keep more actual cash money simply by structuring the nature of the associated support or offset in a creative manner.
These are serious issues, and they require an attorney with skill, expertise and experience. If you are considering a divorce and are concerned about issues such as business ownership or a professional practice I encourage you to call and speak with me personally at (614) 289-1227