Omaha, Nebraska, Business Valuation Lawyers

When facing the complexities of divorce, the division of marital assets can be one of the most contentious and intricate aspects someone will need to navigate. For business owners, the valuation of a company is a critical component that demands careful consideration. At Higgins Law, we recognize that each business is unique, and the approach to valuing it must be tailored to the individual circumstances of your case.

Businesses, whether they are robust entities with significant operations or modest ventures born from after-hours work, can significantly impact the financial outcome of a divorce. From the carpenter with a side business building decks, the CPA preparing tax returns after hours, to the stay-at-home parent running a day care, the question remains: What is the true value of these businesses? At Higgins Law, we delve into the nuances of your situation to establish a fair valuation for marital property division.

Marital Property And Business Valuation Challenges

Divorce can complicate the perception and valuation of businesses developed during marriage. Often, such enterprises are considered marital property, yet there are exceptions to this rule. It is crucial to have dedicated divorce counsel from a lawyer who can discern these subtleties and advocate for your interests.

Consider these scenarios:

• A husband is employed as a house painter but also paints houses privately. Is his side job considered a business for property division purposes?
• A wife is a music professor who provides private instruction on the side. How is her business valued in the divorce proceedings?
• Your spouse owns a company outright. Will the court consider more than the income declared on tax returns, which you may have co-signed?

Our attorneys at Higgins Law are equipped with the knowledge and experience to address these questions. We work diligently to ensure that your rights to fair business asset division are upheld.

Work With A Legal Team With Knowledge Of Business Worth In Marital Dissolution

Choosing the right family law representation is paramount when business assets are on the line in a divorce. With more than 30 combined years of experience, our lawyers at Higgins Law are adept at navigating through the most complex property settlements.

Clients entrust their cases to us because of our:

• Meticulous preparation and attention to detail.
• Commitment to maintaining open and prompt communication.
• Proven track record of successful outcomes.

Our founding attorney, Matt Higgins, is distinguished in the legal community, being AV Preeminent* peer-review rated through Martindale-Hubbell for over 20 years, reflecting his commitment to legal excellence and ethical practice.

Common Questions About Business Valuation In A Nebraska Divorce

A business can affect the value and final division of property in your divorce. Because each company has different records, income patterns and ownership terms, the court must review the facts. The following questions explain how Nebraska may classify, value and divide a business during divorce:

Is a business started before the marriage considered marital property in Nebraska?

A business started before marriage may begin as separate property. However, part of its growth may become marital property if you or your spouse used shared money, labor or other marital resources to increase its value. Clear financial records can help show which portion may remain separate.

What methods are used to determine the actual value of a family business during a divorce?

A valuation professional may use the income, market or asset method to estimate the company’s value. The right method often depends on the type of business, its earnings, debts, records and sales data. In some cases, more than one method may help create a well-supported result.

How does Nebraska treat personal goodwill versus enterprise goodwill in a business valuation?

Personal goodwill comes from one spouse’s name, skill, reputation or client ties. Enterprise goodwill belongs to the company through its staff, systems, location or brand. A careful valuation should separate value tied to one person from value that may remain with the business after ownership changes.

What happens if my spouse underreports business income or hides company assets?

Your lawyer may review tax returns, bank records, payroll reports, invoices and company books for missing income or property. Financial records may also show personal costs or money moved without a clear reason. If the court finds hidden value, it may account for that amount when dividing the marital estate.

Do we have to sell the business, or can one spouse buy out the other’s interest?

You do not always have to sell the business. One spouse may keep it and pay the other spouse through cash, other property or payments made over time. The choice will depend on the business value, tax concerns and whether the company can continue after the divorce.

Partner With Higgins Law For Your Business Valuation Needs

In divorce, an accurate assessment of business value is essential for equitable property division. Our attorneys provide comprehensive family law representation, ensuring that every facet of your business valuation is handled with precision and care. We collaborate with reputable valuation experts to present compelling evidence to the court, framing your case for the most favorable outcome.

If you are navigating through a divorce with business assets at stake, do not leave your future to chance. Contact Higgins Law at 402-933-7600 or via email to schedule a consultation with an attorney who will prioritize your interests and work tirelessly on your behalf. For convenience, you may also reach us through our online contact form. We are here to guide you through every step, ensuring that your business and personal assets are valued and divided fairly.