Business and Divorce Attorney in Minneapolis, Minnesota

Pre-Established Business in Divorce

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How would you determine the non-spouse’s claim to the business that was operated during the marriage but started before the marriage. That is a common problem that occurs and what it requires is your expert forensic accountant and I don’t mean the company accountant but the expert that’s going to be hired for any business that’s worth anything to appraise the business at the time of the marriage. So you operated your business for 10 years before you got married and then you got married in 2000. The forensic accountant will come in and appraise the business as of the date of marriage and then, of course, the business will be appraised as of the date of the dissolution. And the difference is the basis for the marital claim. In other words, the value of the company at the time of marriage is non-marital and should not be awarded to the spouse except under unusual circumstances. So it’s a common problem and it’s dealt with fairly routinely.

Minneapolis family law attorney Denis Grande discusses limiting a non-owner spouse’s claim with businesses that were established before marriage.

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