Experienced San Diego Business Owner Divorce Attorneys
Divorcing as a business owner in California presents unique challenges that require experienced legal representation. With over 25 years of experience, the attorneys at Leigh K. Galyon, APC, in San Diego can help business owners emerge from divorce without suffering undue losses.
Our attorneys offer personalized guidance in developing a divorce strategy that keeps your business ownership concerns at the forefront. With a reputation for excellence and a commitment to client satisfaction, Leigh K. Galyon, APC, is your trusted partner in navigating the intricacies of divorcing with a business.
The Importance Of Accurate Business Valuation
As you may know, all marital property (including a business) is subject to division under California community property laws. Unless you solely own the company and never mingled business assets with marital property, it may not be safe.
Accurate business valuation is essential, as it helps ensure the business division is fair to both spouses. Here are some valuation factors to consider:
- Current value: Business value can wax and wane, making current market value essential.
- Financial records: Careful analysis of financial statements, tax returns and other financial documents can increase accuracy.
- Future earnings: Properly valuing a business also involves accurately projecting future earnings and growth potential.
Business valuation is often a source of contention, especially in high-asset divorces. Accuracy can help prevent future disputes and financial imbalances.
Splitting Business Interests During A Divorce
Deciding how to divide business interests during a divorce can be complex. You have several options to consider:
- A buyout: One spouse purchases the other’s interest in the business.
- Co-ownership: The parties continue co-owning the business post-divorce.
- Sale of business: The parties agree to sell the business and divide the proceeds.
Each option has pros and cons. A divorce lawyer can explain them to help you make the wisest possible decisions.
Get Professional Representation
At Leigh K. Galyon, APC, we understand the many challenges that lie ahead and have helped others in a similar position. Our divorce attorneys are waiting in San Diego to protect your business and personal interests alike. Call us at 619-573-6125 or email us using our online contact form and take a step toward a secure future.