Family Law Overview

Business Valuation

At Biviano Law Firm, we represent business owners in property division issues. Before a business can be divided in a divorce case, an appraisal must be done. Each spouse's contribution to the business must also be considered before it is divided.

Contact us online or call 330.392.5000 to speak to an attorney about dividing your business in a divorce.

Business Valuations in Ohio

If the value of the business increased during the marriage, this increase in value may be considered marital property. In order to determine the value of a business or professional practice, the parties must provide the court with a report and testimony from an expert in the field of business valuation. The expert, who is generally selected with assistance of the attorney and hired by the client, works closely with the attorney in presenting the case so that the business receives a fair valuation.

To accurately appraise a business, underlying records and documents are needed. Essentially, a business valuator takes a historical look at a business to determine its value at the date of marriage, and its value at the date of dissolution. Marital and separate property are also considered.

Find out more about protecting your business in a divorce.

Methods of Business Asset Division

There are several methods available for a court to divide a business asset:

  • The business can be sold and the proceeds can be divided.
  • One party can be awarded sufficient assets that would compensate for the other party being awarded the business. This generally happens if there are other significant assets that were acquired during the marriage.
  • The court can order one party to buy out the other party's interest in the business, either through refinancing or a payment plan.

Contact Us

For more information about asset protection in a property division matter, contact a lawyer online.

Biviano Law Firm
700 Huntington Bank Tower
108 Main Avenue S.W.
Warren, OH 44481

Phone: 330-392-5000
Fax: 330-393-0008
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