Joanna D. Brick, Esq. is an experienced New Jersey attorney offering quality, professional legal services focusing on family law. From its central office in Fair Lawn, NJ, the law firm serves its clients throughout Northern and Central New Jersey.
Business Evaluations and Division
New Jersey Business Evaluations and Division
While going through a divorce, one complex situation is the evaluation and division of a business. Whether this business if family owned, a privately held company or a professional practice such as a law or medical office, the New Jersey Law Office of Joanna D. Brick, Esq. understands the complexity of evaluating and dividing businesses during a divorce in New Jersey. Determining the value of a business can be extremely intricate and a number of professionals may need to be brought in to assist with valuation. Joanna D. Brick, Esq. has widespread experience working with these necessary professionals, while ensuring her client’s satisfaction of the outcome.
Evaluating a Business in New Jersey
It is not uncommon for a divorce in Northern NJ to include a business that must be evaluated and divided between the two parties involved. There are three sets of ways to evaluate a business allowed in the NJ courts. These include a market method, a cost approach method and an income or capitalized method. Our family law firm in New Jersey has the experience to understand the different methods of evaluating a business and strategically determine which of these methods will result in the best outcome for our client. When a business is evaluated for the purposes of division during a divorce, there are a number of factors that must be taken into consideration that are different from when a business value is established for sale. Whether the business is a professional practice or a privately held business, such as a restaurant or services company, it is important to determine which method of valuation will result in the most positive impact for our client. If a business happens to be a publically traded company, determining the value of the stock on the open market is extremely important to the divorce case. If a company is a large private practice, then each of the members of the firm or executives must be taken into consideration and how the division will impact each of them. If there are other partners, it is also significant to determine how this evaluation and division will affect the other partners of the business.
New Jersey Marital Division of Business
The first part of this intricate asset distribution will be the evaluation of the business. Once the method of valuation has been determined and presented to the Court, the Court will determine how this asset is to be divided in the distribution scheme of all of the parties’ marital assets. Division of a business will not only depend on the value but depend upon what each party is seeking in their divorce. Determining your interest in a business as it relates to the other assets of marriage is important and our experienced NJ law firm will talk to you about your options and outcomes.
Seek Legal Assistance for Business Evaluation & Division
The Law Office of Joanna D. Brick, Esq. has extensive experience in marital business evaluations and division of business assets in New Jersey, offering quality, personalized, and professional legal services out of its central office in Fair Lawn, New Jersey. We service Northern and Central New Jersey in Bergen, Essex, Hudson, Middlesex, Morris, Passaic, & Union Counties. Call our law firm today at 201-773-6880.
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