July 26, 2012 (Press-News.org) A few years back, many individuals found themselves searching for new careers after the economy plummeted. Some took jobs similar to those they left behind while others chose to make their own paths and open small businesses.
Both the Wall Street Journal and Forbes report that some entrepreneurial businessmen and women with new startups were recently hiring at "a red hot pace." In fact, Forbes notes hiring for entrepreneurial companies rose over 13 percent compared to last year, a much stronger increase than that of established companies, which reported hiring growth levels at 3 percent.
As these new businesses thrive, owners may have to address other concerns. Although there is no evidence to support the notion that divorce rates are higher for business owners than other couples, it is hard to ignore the high level of stress and long hours required to run a successful business. Unfortunately, these factors can play roles in the breakdown of a marriage.
This can lead owners and their spouses to wonder: what happens to the business in a divorce?
Splitting a Business in Divorce
When both partners are shareholders or partners in a business, one may buy out the other's interest. In this instance, it is important to have an accurate business valuation not only to protect the interests of both parties, but also to ensure a smooth transition of business ownership without disrupting the business' daily operations.
The most efficient way to complete a valuation is by using an expert business appraiser with either a Certified Business Appraiser, or CBA, or Accredited Senior Appraiser, or ASA, certification.
One of the more difficult components to determine within a business valuation is putting a dollar amount on intangible goodwill. Essentially, goodwill refers to the reputation a business or business owner has in the community.
Goodwill is broken into two types: personal and commercial. Personal goodwill is tied directly to the person running the company and refers to qualities like a reputation for honesty or intelligence. Commercial goodwill is attached to the business itself and includes things like the business' location.
Navigating the intricacies inherent to business valuations in divorce is difficult. It is wise to seek the counsel of an experienced business valuation divorce attorney to better protect your property rights and maximize your settlement in a divorce.
Article provided by O'Neil & Attorneys Family Law
Visit us at www.themayfirm.com
When Business Owners Divorce: The Importance of Business Valuations
Determining the worth of a business in a divorce is a complex and tricky process.
2012-07-26
ELSE PRESS RELEASES FROM THIS DATE:
Overtime Lawsuits Becoming More Common
2012-07-26
As USA Today recently reported, there has been an uptick in overtime pay lawsuits in the past several years. Last year saw a 32 percent increase in lawsuits seeking payment for overtime when compared to the past three years.
Some legal experts have theorized that the rise in lawsuits is directly linked to the country's ongoing economic downturn. As companies are facing rising costs and lower revenues, they are taking drastic measures to slash expenses. One surefire way to cut costs is to decrease the workforce, so massive layoffs and restructuring measures have many ...
Florida Housing Market Continues to Face Uncertainty
2012-07-26
The story of Florida's housing market continues to be one of foreclosures and distressed sales. Authorities expect over one million distressed homes to hit the market over the next year or so, including those subject to delinquent mortgages, bank-owned homes and a backlog of homes from the Robogate scandal. A legal case regarding the scandal is currently before Florida's Supreme Court. The distressed properties are concentrated in Orlando, Jacksonville, and across South Florida.
This backlog of distressed homes has worried financial professionals and real estate professionals ...
Financial Questions About Divorce in Tennessee
2012-07-26
Individuals facing divorce may have many questions regarding how property will be divided and what options are most economically promising given their individual circumstances. While a Nashville divorce attorney is the best resource if you are getting divorced, anyone can benefit from a basic understanding of how marital property is distributed under Tennessee law.
Equitable Distribution
Spouses and their attorneys may come to an agreement about how property will be divided upon the dissolution of the marriage. When such an agreement cannot be reached, however, a ...
OOIDA Challenges New Out of Service Criteria
2012-07-26
The debate over working hours for over-the-road truckers continues in federal court as the Owner-Operator Independent Drivers Association (OOIDA) filed a Motion for an Order to Show Cause before the U.S. District Court for the District of Minnesota. The motion asks Judge Donovan W. Frank to order the Minnesota State Patrol and the Commercial Vehicle Safety Alliance (CVSA) to show why they should not be held in contempt of court for violating several portions of a court order barring them from holding drivers out of service.
In 2009, OOIDA and driving member Stephen K. ...
Review Finds No Reason to Continue Use of Metal-on-Metal Hip Implants
2012-07-26
After several years of patient complaints and product recalls, a Food and Drug Administration (FDA) panel of health experts found that there is little reason to continue to use metal-on-metal hip implants in hip replacement patients.
Over the last decade, orthopedists have increasingly used metal-on-metal hip implants after early studies found the devices were less susceptible to wear than their plastic or ceramic counterparts. However, more recent studies and thousands of patient complaints have proved the devices actually have a higher rate of wear, leading to discomfort, ...
Bank of America Shareholder Suit: Civil vs. Criminal Liability
2012-07-26
Americans have heard plenty about financial fraud in recent years, due largely to federal enforcement of white collar crimes in the mortgage industry and related sectors. Investigations of financial wrongdoing can lead to criminal prosecutions as well as lawsuits initiated by shareholders and other interested parties.
A major shareholder suit recently filed in New York against Bank of America touches on some legal issues common to fraud lawsuits and federal white collar prosecutions. The case involves allegations that shareholders were kept in the dark regarding the ...
Just a Bump on the Head? Think Again. The Truth About Traumatic Brain Injuries
2012-07-26
Have you ever counted the number of times someone takes a spill on the hit show "Wipeout", or laughed at the falls people take on America's Funniest Home Videos? With more Americans leading active lifestyles, head injuries are becoming common, yet overlooked injuries that can have debilitating effects if not treated properly. People may hit their heads in falls or crashes may report immediate symptoms that quickly subside, but they may complain of lingering headaches and other cognitive issues weeks, or even months, later.
The Mayo Clinic defines traumatic ...
Harassed by Debt Collectors? You're Protected by Federal Law
2012-07-26
No one likes being pestered by debt collectors calling at all hours of the day, making empty threats and using language that makes one blush. Fortunately, a federal law known as the Fair Debt Collection Practices Act protects individuals from debt collector and creditor harassment. It also makes it illegal for debt collectors to use unfair, deceptive or abusive tactics to provoke people to pay up.
Debt collectors can pursue collection of credit card debt, auto loans, mortgages and even medical bills. They are hired by creditors to collect debts owed to them within a ...
Texas Woman Sues Late Husband's Employer for His Wrongful Death
2012-07-26
A Texas woman has sued the employer of her late husband after he died from a workplace fall, claiming the company waited two hours to call an ambulance and denied her husband crucial medical attention.
The widow alleges that instead of immediately calling 911 after her husband fell at work, the company took a urine sample from him while he was unconscious to test for drugs, a claim the company denies. The husband was a cement loader and batch man and was two weeks away from retirement. After he fell several feet, he lost consciousness and later died in the hospital.
Now, ...
How to Protect Yourself From Wage Garnishment in Ohio
2012-07-26
If you have ever gotten behind on your bills, you may have received a notice from your employer informing you that your wages will be garnished, which might make you think that your entire paycheck will go to paying off your creditors. Fortunately both federal and Ohio laws limit both the amount of money that can be garnished and how often garnishment can occur. In addition, there are certain measures you can take to avoid wage garnishment before it happens, including filing for bankruptcy.
Wage Garnishment and Legal Protections
Wage garnishment is the legal process ...
LAST 30 PRESS RELEASES:
University of Cincinnati experts present research at annual hematology event
ASH 2025: Antibody therapy eradicates traces of multiple myeloma in preliminary trial
ASH 2025: AI uncovers how DNA architecture failures trigger blood cancer
ASH 2025: New study shows that patients can safely receive stem cell transplants from mismatched, unrelated donors
Protective regimen allows successful stem cell transplant even without close genetic match between donor and recipient
Continuous and fixed-duration treatments result in similar outcomes for CLL
Measurable residual disease shows strong potential as an early indicator of survival in patients with acute myeloid leukemia
Chemotherapy and radiation are comparable as pre-transplant conditioning for patients with b-acute lymphoblastic leukemia who have no measurable residual disease
Roughly one-third of families with children being treated for leukemia struggle to pay living expenses
Quality improvement project results in increased screening and treatment for iron deficiency in pregnancy
IV iron improves survival, increases hemoglobin in hospitalized patients with iron-deficiency anemia and an acute infection
Black patients with acute myeloid leukemia are younger at diagnosis and experience poorer survival outcomes than White patients
Emergency departments fall short on delivering timely treatment for sickle cell pain
Study shows no clear evidence of harm from hydroxyurea use during pregnancy
Long-term outlook is positive for most after hematopoietic cell transplant for sickle cell disease
Study offers real-world data on commercial implementation of gene therapies for sickle cell disease and beta thalassemia
Early results suggest exa-cel gene therapy works well in children
NTIDE: Disability employment holds steady after data hiatus
Social lives of viruses affect antiviral resistance
Dose of psilocybin, dash of rabies point to treatment for depression
Helping health care providers navigate social, political, and legal barriers to patient care
Barrow Neurological Institute, University of Calgary study urges “major change” to migraine treatment in Emergency Departments
Using smartphones to improve disaster search and rescue
Robust new photocatalyst paves the way for cleaner hydrogen peroxide production and greener chemical manufacturing
Ultrafast material captures toxic PFAS at record speed and capacity
Plant phenolic acids supercharge old antibiotics against multidrug resistant E. coli
UNC-Chapel Hill study shows AI can dramatically speed up digitizing natural history collections
OYE Therapeutics closes $5M convertible note round, advancing toward clinical development
Membrane ‘neighborhood’ helps transporter protein regulate cell signaling
Naval aviator turned NPS doctoral student earns national recognition for applied quantum research
[Press-News.org] When Business Owners Divorce: The Importance of Business ValuationsDetermining the worth of a business in a divorce is a complex and tricky process.