At the Law Offices of John S. Cowhig, we advocate for both men and women, in equal number, and skillfully educate, negotiate, mediate, or litigate to protect the interests of our clients.
There are many options available to a court in determining the ultimate value of a business. The lawyer, therefore, must be skilled and experienced in business valuation cases. For example, a business owned before marriage but which increased in value during marriage as a result of the parties’ efforts in that business during marriage is valued differently that if the owner spouse did little to no work in the business during marriage. A business started during marriage would be valued differently that the above scenarios.
It is important to know that even professional practices that are reliant on the skill, reputation, and efforts of just one party can still have value. For example, a doctor who is a sole practitioner and has patients only as a result of that party’s reputation and those patients would leave and find a new doctor if he or she left that practice could still find him or herself facing a significant value being attached to that professional practice upon a divorce. Interestingly, the same income/profit that is used to value the community interest in that business or professional practice (for which the spouse receiving the business must buy out the other spouse) can then be used to calculate spousal support for the other spouse, if support is warranted.
Because of the complexities of this area of law, regardless if you are the managing spouse (“in-spouse”), or the non-managing spouse (“out-spouse”) it is strongly suggested you speak with an experienced family law specialist before coming to any agreement about the value and/or division of a business or professional practice.
At The Law Offices of John S. Cowhig, we handle divorce and family law cases throughout Riverside, Los Angeles, San Bernardino, and Orange County, CA.
No matter the specific issue you face, you will need an attorney on your side to safeguard your interests and your future by providing a custom solution for your case. We are prepared to help our clients with compassionate and supportive guidance when it is needed most. However complicated your case may seem, our skilled attorneys and winning strategies can help.
In addition to our proficiency in handling a vast variety of cases, our lawyers are adept at aggressively litigating cases and at negotiating. We aim to make each case as easy and pleasant for the parties involved as possible. We constantly update clients on the state of their case and provide our full support and attention. No matter what our clients’ goals are, we take their hopes to heart, fighting relentlessly to protect their interests and achieve the best outcomes.
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We take your family law matters very seriously.
Below, we’ve provided a number of ways for you to contact our professional staff:
The Law Offices of John S. Cowhig is found within Irvine’s beautiful Main Plaza, located just right off of the 405 & 55 Freeway.