Often in divorces, a spouse or both spouses may own a closely-held business. While the business itself may not be divisible in the divorce, the value of the business entity as an asset of the marital estate can be an important component to the division. There are several considerations at play when valuing a business entity for divorce purposes.

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January is the month of renewal – closing the door on the negativity of the prior year and planning for the challenges of the new year. Many commit to weight loss, exercise, or stopping smoking at the start of a new year as an opportunity to make improvements in their lives. On the other hand, some people use the beginning of a new year to make new personal beginnings, such as ending their marriage.
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I was asked recently about whether becoming a partner in a professional company creates community or separate property. The Husband worked for a firm prior to marriage and shortly before the marriage was offered a partnership interest in the firm. He and the firm signed the partnership agreement a few months prior to the marriage. After the marriage, he began receiving the benefits of the partnership agreement. Now, he and his wife are headed for divorce and he wonders if she is going to be entitled to part of his partnership interest.
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