Maryland divorce laws dictate that when a marriage dissolves all marital property, as well as marital debt, gets distributed. One very common aspect of marital property are business assets, profits and interests that were accumulated during the marriage. When going through a divorce it is imperative that your legal rights, as well as financial interests, are protected. This can be accomplished by retaining an experienced Maryland divorce lawyer with experience handling business valuation cases. Our Bel Air, Maryland family law attorneys possess a wealth of experience with Maryland business valuations. You can click here to contact the Maryland divorce attorneys @bowerslawmd for a free case review.
With offices in Elkton, Aberdeen & Baltimore they serve the Anne Arundel County, Baltimore, Baltimore County, Harford County & Cecil County areas.
Designating A Dollar Amount To The Business
Assigning a dollar amount to your business is a very complex task. At our Maryland divorce law firm we will do everything necessary to protect your rights and interests during this trying time. This includes bringing in subject matter experts when determining the true value of your business. These experts can include accountants, financial planners and tax specialists.
When determining the value of your business during a divorce nothing is left to chance. All aspects of your business will be examined. These can include:
Maryland Equitable Distribution Laws
Each state in the country has their own property division laws and they are usually 1 of 2 types: community property & equitable distribution. The state of Maryland is an equitable distribution state. Equitable distribution, property division and asset division is the process of dividing property rights and obligations between spouses during divorce proceedings. Property division can be agreed upon between the spouses through a property settlement, or it may be decided in court during the judicial process of divorce.
As Maryland is an equitable distribution state, only property acquired during the course of the marriage is subject to division in divorce proceedings. Some factors considered by Maryland family law courts in a property division case include non-monetary contributions and a list of other factors defined in Maryland law. Some of these factors may be financial or time contribution to the business and financial misconduct by either spouse.
How A Bel Air MD Divorce Attorney Can Help You
Our Baltimore, MD divorce lawyers routinely help Maryland residents who are facing divorce and business valuation is a part of it. To make sure your rights, and financial interests, are protected call our attorneys today. The family law lawyers on our team possess many years experience helping those enduring very difficult family law issues in Maryland and they also offer free consultations.