Addressing Closely Held Business Interests In Divorce
Divorce poses unique challenges for owners of closely held businesses in Pennsylvania. A key component of property distribution involves identifying and valuing each party’s business interests, which may be significant. This process requires both legal and financial acumen.
Divorce can threaten the profitability and sustainability of your business – especially if handled improperly.
At Frank, Gale, Bails & Pocrass, P.C., we have established a respected reputation for providing trusted guidance on business issues in divorce. Our lawyers possess a firm grasp of the law in this niche area. We work with highly respected experts to develop accurate and defensible business valuations.
Based in Pittsburgh, our firm has the resources and flexibility to advocate for the interests of closely held business owners statewide. We represent clients with businesses in a wide range of industries, from professional practices to construction companies to family-run retail businesses and more.
Tailored Strategies For Protecting Your Interests
In conjunction with financial, accounting and tax experts, our family law attorneys will develop a strategy to protect your interests, beginning with:
- Conducting a detailed examination of business records
- Determining whether an income approach, asset approach or market approach is appropriate
- Addressing tax considerations
- Handling disputes over differing standards of value and goodwill determinations
- Pursuing your position on appeal, if needed
Our ultimate goal is to secure a valuation and propose an arrangement that fits within your vision for the future. For some, that may mean liquidating the business. For others, it may mean buying out other ownership interests or working out a joint management agreement. We are committed to pursuing the most favorable outcome for your unique situation.