3rd Tip to Protect Businesses During the Divorce Process
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Hi, this is Dave Ward of the Ward Law Firm. We protect business owners facing divorce. We're going to be discussing three tips for business owners to help protect their business through the divorce process.
The third thing that you can be doing in order to protect your business would be, to reduce the amount of cash being held in the business.
There are a couple of different ways of doing this. Probably, the most common one would simply be, to pay yourself a good salary, which sometimes sounds counter intuitive. Your account will probably disagree with this particular thing but if you're facing divorce, there's a good reason for this.
Number one, the valuation of the business often times can be calculated in a number of different ways. But one of the things that's often times taking into account, in most of the message that you could be using to evaluate is, going to be the size of the cash holdings in the business.
So, that can be very very problematic. By removing the cash from the business, that is now an asset that you can have to use to offset the value of the business when you're looking at dividing the assets. So, that way you're able to keep your business intact without having to split, sell off assets, or do anything else that might potentially harm the business.
So, those are three tips that you can use if you're facing a divorce and you're trying to protect your business. If you're interested in learning more, call the information below and we can set up a time to do a Real Case Analysis for you.
I'm Dave Ward from the Ward Law Firm and we protect business owners facing divorce.
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Whether your divorce involves asset and debt division, financial support, or child custody, the mental and emotional toll can be overwhelming. Having a complete and honest assessment of what to expect throughout the divorce process substantially reduces the doubt and uncertainty that many people experience. Gwinnett County divorce attorney David Ward has the experience to know that even the most complex issues have solutions, and he fights to ensure that your best interests remain the focus.
It is vital to pursue legal matters carefully and consciously with an experienced family lawyer like David Ward who will guide and keep you informed as your case progresses. Unlike most divorce lawyers in Gwinnett County, David Ward has a strong background in finance and accounting. He uses his deep understanding of finances to tackle complex situations regarding property and asset division.
We know that there are few situations in life that are more difficult than divorce. The decisions you make early on in your case may affect you and your children’s lives well into the future. We understand the difficulties you are now facing and we want you to know that we are here to help. In fact, our Duluth law firm has been helping folks just like you work through their divorces and family law issues for over a decade. Contact a divorce attorney Duluth or a Gwinnett County family law attorney today at 770-383-1973 to schedule your REAL Case Analysis.
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