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Divorces are emotionally difficult, but they can also have significant financial consequences. During a divorce, it is essential to ensure that all assets and liabilities of your business interests (e.g., partnerships, private equity investments, start-ups) are accurately identified, valued and distributed. The correct valuation of all business assets and investments is crucial to ensure that your property division process is handled appropriately so you can move on with your life, financially secure and be optimally positioned to embrace a new beginning.

Any business interests you or your spouse own must be properly identified, valued and accounted for when going through a divorce. Contact us online or call (305) 222-7442 to schedule a consultation. 

Divorce Impact on Miami Business Owners & Investments

A divorce can have a significant impact on your business interests and investments. If you or your spouse own a business, have an interest in a business or have business investments, they may be a marital asset and be subject to division in the divorce settlement. Similarly, dividends, distributions and profits from these investments may also be considered marital property and/or for support purposes. This means that you and/or your spouse may have entitlements to some of these income streams. 

Accurate business valuations during a divorce are crucial for the following reasons:

  • Distribution of assets that may have values that are difficult to determine
  • Assess the true value of the business interest(s), including any liabilities
  • Aid in creating a future business strategy in consideration of the effect of the divorce

Working with a skilled attorney who can help you protect your business interests during the divorce process is crucial. At Leinoff & Lemos, we have extensive experience handling divorce cases involving high-net-worth individuals and cases in which one party owns or is invested in a business or multiple businesses which may have values which are difficult to value. Our attorneys take a hands-on approach and will work closely with you and outside professionals, if necessary, to develop a strategy to maximize your legal and financial interests.

Ensuring Fair Business Valuations in Miami Divorces

The valuation of a business or business interest during a divorce case may be a complex and time-consuming process. The value of a business can be affected by several factors, including the type of business, the percentage of ownership interest, the degree of your and/or your spouse’s involvement, the industry, the company's financial performance, and the overall economic climate.

Several different methods can be used to value a business. The most common methods are:

  • Asset-based valuation: This method values the business based on the value of its assets, such as inventory, equipment, money in the bank, receivables, and real estate.
  • Income-based valuation: This method values the business based on its projected future income and in consideration of prior income.
  • Market-based valuation: This method values the business based on the prices of similar businesses that have been sold recently.

Having to value your business to enable an equitable distribution of its value with your former spouse can have a long-term, negative impact on you and your business’s financial stability. Not to mention, a messy divorce can affect you and your business’s reputation. Determining a range of value that is realistic considering Florida law is critical to arrive at a resolution and avoid the cost of protracted litigation.

Additional factors that may be considered when valuing a business during a divorce include:

  • The existence of the business prior to marriage
  • The length of the marriage
  • The percentage interest of ownership
  • How and when the ownership interest was acquired
  • The structure of the business and degree of involvement
  • The contributions of each spouse to the business 
  • Application of appropriate discounts
  • The tax consequences of the valuation

It is important to note that the valuation of a business is not an exact science. There is no one right answer, and the value of a company or a percentage interest in a company can vary depending on the factors considered. If you are going through a divorce and you or your spouse own a business or have an interest in a business, it is important to consult with an experienced attorney to discuss your case and learn more about your rights and options.

Protecting Your Business Assets During Miami Divorce Proceedings

If you are going through a divorce and you or your spouse own or are invested in a business, it is important to consult with a family law attorney who has experience in business valuation related to property division spousal support and child support. The attorneys at Leinoff & Lemos can help you protect your legal rights and interests. They are ready to advise you as you navigate the complex legal and financial issues involved in a divorce.

To learn more about how business valuation may impact your divorce settlement, call our firm at (305) 222-7442 or schedule a consultation online.

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