Preparing A Business For Equitable Distribution

Whether you own a family business or a medical practice, Helton, Cody & Associates, PLLC, can assist you with the equitable distribution of assets during divorce proceedings. Determining the true value of your business is a vital step in this process, which often requires an appraisal by an expert. Once the business has been assigned an accurate value, you will be in a position to make informed decisions about whether a settlement offer is in your best interest.

When handling business valuations, our attorneys work in tandem with accountants and other business valuation experts. We carefully analyze the experts' findings and craft a legal strategy to uphold our clients' interests. We handle cases involving all types of family businesses and professional practices for doctors, dentists, lawyers and others.

Addressing Your Divorce-Related Concerns

We can resolve many different issues and answer many different questions related to business valuation and divorce. Here are a few common questions:

  • Am I automatically entitled to part of the business's value? It depends. North Carolina law recognizes the "concept of marriage as a partnership, a shared enterprise to which both spouses make valuable contributions, although often in different ways." White v. White, 64 N.C. App. 432 (1938). As with all equitable distribution cases, determining what portion of the business is marital property, its value and then determining how to divide the net assets in a way that does the least damage to the business is a complex process.
  • Do we have to sell the business? We will work with you to come up with a creative legal strategy that is in your best interest.
  • What if I can't afford my own attorney? If all the money is in your spouse's hands and you can't afford a lawyer, we may agree to work on a contingency fee basis. In addition, we may be able to recoup your attorney expenses through the equitable distribution award, once the property division is finalized.

Learn More — Contact Us

You can learn more about business valuation and its impact on divorce proceedings by calling Helton, Cody & Associates, PLLC, in Hickory, at 828-848-8776 (toll free at 888-321-0494). You may also send us an email to schedule a consultation. Our experienced and highly trained attorneys can walk you through the process with confidence.