Minneapolis Divorce Attorney: Closely Held Businesses

At the law office of Kathleen Newman, our divorce lawyers know the finer points of business law so, when the division of marital assets in your divorce affects your company, we offer effective, specialized assistance to help protect your best interests. Located in Minneapolis, Minnesota, we frequently represent divorce clients who have property division issues related to closely held businesses.

Business Valuation

How much is my business worth? One of the concerns for some divorcing couples is business valuation. Minnesota uses a Fair Market Value standard in valuing a business. It is often not immediately clear how much a business is actually worth, considering things like the state of the economy, minority ownership, marketability, and projected earnings. Business value can also be affected by the value a key person brings to the business through their reputation or special skill. When valuing a business, all these things should be considered. That is why we prefer to work with a few well-qualified experts to make sure that your business valuation is done correctly and to protect your interests.

"As a finance person myself, I always like to do the risk/reward tradeoff. Kathleen was good at assessing what the likely range of results would be and she generally nailed them. I was very comfortable with her guidance on which issues to push and which to back off on." -Keith K.

Often clients would like to rely on a buy-sell agreement that spells out details such as how much a seller should be paid for their interest in the business. However, in Minnesota, a buy-sell agreement is only an indication of value and is not dispositive.

Contact Us

Contact our law offices at 612-424-9477 or toll-free at 888-862-4174 to speak with our experienced family law attorneys about how your closely held business may be affected by business valuation in the divorce. We also help with other property division issues, including dissipation claims.