How Are Business Assets Divided When a Couple Gets Divorced?
You may be worried about how your business will be divided between you and your spouse during your New York business divorce . Your company's continued unity and control may be a high priority for you during the asset division process. However, what happens when your company has its assets? What Is the Determination of Ownership? The first step is to determine whether or not your company will be treated as a communal asset or a separate property for a privatee quity fund valuation . As a result, the company's assets will be assigned to this ownership category when it is evaluated to establish their monetary value. You may wish to have a third party evaluate the monetary value of your company during this determination of ownership so that you know what to expect in the division of property and the court's valuation finding. Gather the Necessary Documentation When the court reviews your business and its ownership, you may need to prove that your business and not y