High Asset Divorce
At Tsai Law Company, we have over 45 years combined experience in the division of business assets for high net worth divorce cases in Washington State. Our legal services include business valuation in divorce, dividing assets in divorce, division of property, and protecting assets in divorce.
Division of a business asset in divorce requires special analysis
regarding the type of business and income generated therefrom. Many times, the percentage of ownership
interest and specific structure of the business may have
an impact on how the business is valued. Usually, if
your business is successful and generating income beyond
the expenses required to run the business, there can be a
value assigned by the Court to the beyond just the
tangible assets of the business itself. This is true
regardless of whether the business is selling goods or
services.
It is extremely important not to overlook or take for
granted just the income being generated from a business in
a divorce or legal separation proceeding. The term
"Goodwill" applies to some businesses that have value
beyond just the tangible assets owned by the business.
Goodwill has been described as a marital asset that
is inseparable from the business and cannot be disposed of
separately from the business. Chesterfield v.
Nash, 96 Wn. App. 103 (1999).
Washington State Courts have also carved out specific factors for the type of business being valued. For example, for a professional business, the existence of professional goodwill is determined by considering such factors as the professional's age; health; past earning power; reputation in the community for judgment, skill, and knowledge; and comparative professional success. If goodwill is determined to exist, it is valued according to accepted accounting methods. Marriage of Fleege, 91 Wn.2d 324 (1979).
Contact Us
Tsai Law Company, PLLC
2101 4th Avenue Suite 1560
Seattle, WA 98121
1-425-DIVORCE (348-6723)
Email:
support@TLClawco.com
Call one of our experienced
Seattle Divorce Lawyers and
Family Law Attorneys at TLC at
206-728-8000 to discuss the separation of assets in
divorce.
Please visit our
home page to find out additional information about our Divorce and Family Law Attorneys in Washington.We can hire the right experts to determine if your spouse is hiding assets in divorce.
Disclaimer: The content of this divorce website is for informational purposes only and does not in any way establish an attorney-client relationship between the reader and Tsai Law Company, PLLC or constitute legal advice. To establish an attorney-client relationship, a written agreement is required.