Dividing Business And Professional Practice Assets In Divorce

When owners of businesses and professional practices divorce, you may be entitled to some portion of the business. Identifying, valuing and dividing these assets is a complex process that calls for the guidance of an experienced divorce lawyer.

At Beverlye Brady and Associates in Auburn, we have extensive experience handling all types of property division matters, including divorces involving the division of business and professional practice assets. We work with experts in business valuation, accounting, fraud detection and other fields who help us find the facts.

Representing Auburn Business Owners And Their Spouses

In an Alabama divorce, property acquired during the marriage is generally considered marital property and subject to division upon divorce. A business or professional practice established during the marriage may be considered marital property. If the business was established prior to the marriage, it may be considered separate property, but income and appreciation occurring during the marriage could be considered marital property.

Physical assets that may be divided in divorce include real estate, machinery and equipment, but not all business and professional practice assets are physical. Intangible aspects that make a business a success also have value. These characteristics are often referred to as the "goodwill" of a business and may include:

  • A good reputation
  • A suitable location
  • A well-trained workforce
  • Effective advertising
  • Client List
  • Trade information

Whether or not you or your spouse will be running the business or professional practice going forward, our attorneys are here to make sure your contributions to the operation are reflected in the property division settlement.

Contact Our Experienced Property Division Lawyers

Our attorneys are here to guide you through the property division process. Call us today at 334-246-5299 to schedule your confidential consultation.