Property division and the determination of income during the divorce process can become a more challenging task when one of the spouses is a business owner or self-employed. While the underlying law regarding equitable distribution of marital assets remains the same as for salaried or wage earning employees, a different set of techniques must be used to value marital assets and income.
REGULAR REPRESENTATION OF BUSINESS OWNERS AND SELF-EMPLOYED INDIVIDUALS
At Karen Ann Ulmer, P.C., we frequently advise and represent clients in divorces involving business owners and the self-employed. In your case, we will use our experience and legal knowledge to protect your assets and your rights.
The right property settlement and fair alimony child support orders can enable you to make a successful transition to life after your divorce. Call 215-752-6200 to arrange for a free confidential consultation.
VALUING A BUSINESS
Karen Ann Ulmer, P.C., in Bucks County, has extensive experience in divorces involving the ownership of businesses. Our attorneys often work with business valuation specialists who can fairly value a business. Their work can also be used to dispute the valuation placed on the business by the other side’s accountant, appraiser or valuation specialist. We are also creative thinkers who are knowledgeable in structured buyouts and other financial arrangements that allow distribution of marital assets in the form of a business, yet allow the business to continue as a going concern.
DETERMINATION OF INCOME
A person’s income can affect the level of alimony or child support the individual receives or must pay. But determining income for these purposes is not simply a matter of looking at the person’s tax return. To cite one example, certain deductions are not taxable but are not allowed for the purposes of determining child support. In other cases, some business owners and self-employed people may experience wide swings in their income from year to year or intentionally underpay themselves.
Our lawyers are skilled at identifying hidden income and assets and challenging false claims of hidden income and assets. We will work vigorously to protect your rights and interests when it comes to property division, alimony and child support payments.