Seattle Divorce Lawyers for Professionals
Protecting Your Property Division Rights
When a business is part of community (marital) property, a complete analysis and appraisal of the business must be conducted before the division of property in a divorce. This is especially true for professional practices such as those belonging to lawyers, doctors, accountants, engineers, stockbrokers, musicians, athletes, small business owners, LLCs and partnerships.
With more than 80 years of combined legal experience, the lawyers at Anderson, Fields & McIlwain, Inc., P.S., have the knowledge to represent professionals from any occupation. We understand the complexities of dividing professional practices and other businesses during a divorce. To arrange an appointment with a Seattle divorce attorney, please call 206-905-4290 or toll-free 866-970-4558 or contact us online.
Special Considerations of Professional Practices
Our experience with the valuation and division of professional practices also includes copyrights, royalties and other assets related to intellectual property. We know that your professional practice may be one of the most valuable assets in your community estate. In addition, when necessary, we work with financial experts such as business appraisers to advise us on:
- The fair market value
- Value of the property and the equipment
- Whether the goodwill of the practice is community property
- Tax consequences
If one spouse financially supported the other spouse’s education for a degree or professional license, the Court may compensate the supportive spouse for losing the practice to divorce. Compensation may be a larger share of the practice or its profits. The Court may also choose to give that spouse a greater share of another marital asset.
Our attorneys work with financial experts to correctly value a business or review an existing valuation for accuracy. When we have fully valued your practice or business, we will work to negotiate a property settlement that is in your best interest.