Business Ownership in Divorce: Navigating the Challenges of Asset Division

Episode Summary

In this episode of Law & Life: The Levoritz's Approach, attorney Yonatan Levoritz breaks down the complex topic of business ownership in divorce. Host Kevin Rosenquist and Yoni discuss how businesses are valued, the role of court-appointed experts, and the challenges business owners face when dividing assets. Yoni shares insights on dealing with undervaluation, uncovering hidden assets, and strategies for ensuring a fair division. From court-appointed appraisers to private investigations and forensic accounting, this episode offers practical advice for business owners navigating divorce.

Timestamps

• 00:00 – Welcome to Law & Life: The Levoritz's Approach
• 00:04 – Introduction of attorney Yoni Levoritz and episode topic
• 00:32 – How business ownership impacts asset division
• 01:42 – The role of court-appointed experts in business valuation
• 02:45 – What to do if an expert undervalues a business
• 04:01 – Investigating hidden income and assets in divorce cases
• 05:04 – Common challenges business owners face in divorce
• 06:45 – How a business’s financial downturn affects valuation
• 08:23 – What happens when one spouse wants full control of the business
• 10:29 – How courts determine the percentage of business ownership for each spouse
• 12:47 – Valuing multiple businesses and distinguishing between active and passive income
• 12:58 – Negotiating business asset division privately vs. through the court
• 13:32 – Tips for business owners to protect their businesses during divorce

About the Show

Law & Life: The Levoritz's Approach is a podcast hosted by attorney Yoni Levoritz, a leading expert in family law. With a focus on real-life legal issues, Yoni shares professional insights to help listeners navigate complex legal matters, from divorce and asset division to child custody and estate planning. Whether you’re facing legal challenges or simply want to be informed, this podcast provides valuable guidance.