Business Valuation & Your Complex New York Divorce
In New York State, a business, professional license or academic degree can have a significant value for divorce purposes. In New York divorces we can even value the “enhanced earning capacity” of a party. Enhanced earning capacity is the present value of the additional income a party will earn over his or her lifetime as the result of training or education received during the marriage.
The issues surrounding both business and these other, intangible, assets are complex. Typically, an expert is retained to value these assets. At each stage of the equitable distribution process, from the classification of the asset as marital or separate, the valuation of the asset, and ultimately the distribution of the asset, issues arise which require the skill and knowledge of an attorney well versed in matrimonial law.
The issues raised with respect to these assets multiply in complexity when dealing with tangible assets, such as retirement and investment accounts or real property, which are discussed in the asset and property division page. If these intangible assets are in issue in your divorce, please contact us at our Garden City matrimonial law offices as soon as you can.
At our full-service matrimonial law and family law firm of Joseph & Teeter, P.C. in Garden City, our four skilled attorneys share one mission: bringing about the best resolution possible for you in your divorce. You can be assured that our reputation, diligent case preparation and quality legal representation will give you the representation you deserve.
Preparation, Reputation, Quality Representation for Clients
Only by knowing your case, through thorough preparation can we effectively advocate for you with respect to your business, degrees or professional licenses. Is there support to argue that some or all of said assets are your separate property, or can and should we argue that it is marital property?
Working closely with experts such as business valuators and forensic accountants values can be placed on businesses, licenses and degrees. In some marriages, often found in short term marriages of new professionals (doctors, lawyers, accountants) the enhanced earning capacity may be the most valuable asset available for equitable distribution. Protecting that asset, or obtaining your equitable share, is critical.
Whether you are contemplating divorce, already embroiled in litigation, or contemplating marriage, it is imperative that you understand these assets. To learn more about these issues, as they relate to your particular situation, please, contact us.
Call Us Today to Schedule Your Initial Consultation, Toll-Free: 1.866.520.1641
At Joseph & Teeter, P.C., our matrimonial and family law lawyers have the work ethic and track record of results that are necessary to effectively advise you and advocate on your behalf. We offer both traditional hourly billing and project based billing, We look forward to meeting you and working with you.
