Asset Distribution Is Complicated When Businesses Are Involved

Doctors, lawyers, business owners, mental health and other professionals who are self-employed have unique circumstances and issues in a divorce. In the case of a personal service practice, with the exception of scant office assets, there is nothing to sell or divide. Because it isn't possible to sell a reputation, it is important to know what is and is not saleable in such divorce cases.

In the case of a business, it is critical to know whether or not there is "double dipping." Both accounts receivable and salary cannot be considered income — one has to refer to one or the other when doing calculations and divisions.

Similarly, loans to shareholders, shareholder/partnership and buy-sell agreements must be taken into account regarding assets and liabilities of a business. Tax consequences and depreciation also must be considered in a corporation, all of which affect its value.

These calculations can get incredibly complex, and many attorneys are simply ill-prepared to ideally work through these issues. Because we have been working on family law issues involving businesses for more than 20 years, we are ready to bring our comprehensive knowledge and client-centric commitment to help you arrive at an ideal resolution.

St. Charles Professional Divorce Lawyer

At the Law Offices of Susan L. Ward, LLC, we always look out for the unseen consequences, including tax consequences when looking at division and what a spouse can be awarded in the wake of a divorce. We are ready to undertake the rigorous discovery that these cases entail, including investigating business expenses that may increase over time.

There are no business/professional divorce issues too complex for our firm. If you are involved in any of these issues, we are ready to bring our expertise to work.

To discuss the division of assets in a complex Missouri family law matter with a St. Louis divorce and business lawyer call 314-783-9400 or email the firm.