Business & Financial Issues

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Business & Financial Issues

At Eisenberg & Spilman, PLLC, we understand that your business and financial needs might be at the forefront of your mind when you initiate the divorce process. Rest assured, our attorneys have vast knowledge and experience handling complex divorce cases involving extensive assets and closely held businesses.

A skilled family law attorney from our firm will assess your unique circumstances as they develop a customized strategy for your case. Let us offer you the same comprehensive family law legal representation with unmatched business know-how that all our clients receive. 

How We Handle Financial Issues in a Divorce

Are you concerned about how a divorce will affect your portfolio or business interests? Retaining an attorney from our firm means you will also benefit from working with other professionals with whom we frequently consult and collaborate to achieve your best outcome. From business appraisers to financial planners to forensic accountants, we work with a wide range of professionals throughout your case. 

The attorneys at Eisenberg & Spilman, PLLC are well-equipped to help you with your divorce or family law matter, regardless of the complexity, including the following: 

  • Prenuptial agreements – We understand you have worked diligently to build your wealth and want to help you protect it. Drawing from our extensive experience drafting enforceable prenuptial agreements, we will work with you to craft an agreement you will be confident in. Whether your concerns involve your stake in a family-owned business or your personal assets, we can help. 
  • High net worth cases – Our lawyers routinely work with clients with high net worth marital estates. We work hard to ensure an accurate valuation is calculated and will explain what portion you are entitled to in your divorce. Whether your case involves restricted stock options, annuities, or pensions, we have the experience to help you receive what you are due. 
  • Hidden assets – When trust is lost in a marriage, we understand that hidden assets may be a concern. We work tirelessly to locate all marital assets, whether your spouse attempted to hide them in offshore accounts or by using fake identities or entity names. We strive to secure the money and assets our clients are entitled to through fair and equitable property division, involving private investigators and security firms if necessary. 
  • Business valuations – When a married couple is in business together, a business valuation is often necessary to assess the business’s worth and overall profitability. We regularly work with real estate appraisers, CPAs, and tax attorneys to ensure the proper value is placed on this asset and incorporated into the marital estate.
  • Jurisdictional concerns – Certain jurisdictional issues can complicate your case if your spouse or any assets are not located in Michigan, highlighting the need for an attorney who has successfully navigated these challenges

 

Addressing the Impact of a Divorce on Your Business

We understand your concerns about how a divorce will affect your business. Accordingly, determining whether the business is a marital asset is often a priority. You may own the business with your spouse.

Or, you may be more involved in the day-to-day operations of the business, but you started the business during the marriage, affecting whether the business will be considered a marital asset. We will examine whether ownership interests in the business are affected by a prenuptial or postnuptial agreement. 

Once we determine whether the business is a marital asset, we can advise you concerning your options, as whether the business is a marital asset can significantly impact the property division in the divorce. Depending on your specific circumstances, we may recommend you buy out your spouse so you are the sole owner. Or, if the divorce is not contentious and you wish to continue to work together, you could do so under a new partnership agreement. The third option is conducting a business valuation to sell the company to a third party. In this scenario, you would split the sale proceeds with your spouse. 

Determining How to Value Your Business

business valuation may be needed in your case if there is a dispute about value that could impact settlement negotiations or if you agree to sell the business. The nature of your business and the circumstances of the divorce generally dictate the valuation method we may use, which includes the following three types:

  • Income-based approach – This method assigns a value to a business’s ability to produce future income. Using an appropriate discount rate, it projects future cash flows and discounts them to present value using an appropriate discount rate. This method can help the spouses understand the ongoing financial benefits that one party may continue after the divorce, impacting potential alimony payments and settlement terms. 
  • Asset-based approach – This valuation method focuses on the net asset value of the business by subtracting the liabilities from the total value of all business assets. While an arguably straightforward approach, it may not be an effective means of valuation for service-based companies where the company’s brand recognition or intellectual property may be more valuable than its assets. We may recommend this approach if the company’s value primarily comprises real estate, investments, and heavy equipment.
  • Market-based approach – Under this approach, a business’s value is determined by conducting a market analysis comparing other recently sold companies in the same industry and location. Price-to-earnings ratios or revenue multiples from comparable sales are analyzed using this method. It may be an effective valuation method if your business is in a well-defined market where several sales are available for comparison. If you and your spouse are considering a sale, this approach may provide a helpful picture of the potential sale price of the business. 

 

How We Are Different from Other Michigan Family Law Firms

Eisenberg & Spilman, PLLC distinguishes itself from other Michigan family law firms by fairly billing our clients for the work we do. We understand the financial strain that divorce proceedings can put on you and your family. We will ensure you understand your bill, and we are happy to answer any questions about our fair and reasonable fees and costs.  

As a firm composed of only female attorneys, we bring a unique perspective to your case.  Laura E. Eisenberg and Amy M. Spilman are  fellows of American Academy of Matrimonial Lawyers (AAML). Laura is the immediate past president of the Michigan chapter, Laura’s practice involves complex matrimonial cases, frequently representing business owners. From doctors and lawyers to accountants, Laura and her entire team of highly experienced attorneys counsels professionals on family law matters so they can focus on managing and growing their businesses. 

Instead of a one-size-fits-all firm, retaining an attorney from our firm means you will work with a dynamic group of attorneys who will collaborate with you to achieve your goals. If you want strong legal advocacy delivered in a fair and transparent manner, look no further than the compassionate Eisenberg & Spilman, PLLC family law attorneys. 

Contact Eisenberg & Spilman, PLLC Today

Whether you want to file for divorce or have just been served with divorce papers, a family lawyer from Eisenberg & Spilman, PLLC, is here to help. Regardless of your case’s complexity or your marital estate’s size, we are prepared to vigorously advocate for your legal rights in a divorce. Contact us to get started with your case by speaking with one of our attorneys in a confidential initial consultation. We are pleased to offer evening and weekend appointments upon request for your convenience.