BUSINESS INTERESTS

Equitable distribution in New York mandates that marital assets be divided in a manner that is fair but not necessarily equal. This principle applies to all assets acquired or grown during the marriage, including businesses, presenting unique challenges in determining a fair share for each party. Typically, under the case law, the spouse that is not involved in the business may receive as equitable distribution, anywhere from 0 to 30% of the value of the business that was created during the marriage. Many factors dictate the percentage and only an experienced attorney in this area can guide you through the factors the court considers in arriving at a spouse’s percentage of the value of a business.

Typically, a forensics evaluation is needed to determine the fair market value of a business, but not always. Forensic accountants employ various methodologies to ascertain the value of a business and only an experienced attorney in this area can guide you through that process.