What is the Goodwill for a business in a divorce and why does it matter? Goodwill is a term which is generally associated with the intangible benefits one or both of the spouses bring to a marital property owned business or professional practice.
Goodwill is considered as a separate issue from the valuation of the business asset itself, or from other intangibles contributed by the spouse who owns or runs a company. Goodwill for a business in a divorce accounts for the value of location, relationships with customers and suppliers and the reputation of an individual as it associates to the value and viability of a Kentucky business.
Generally speaking, if the business interest or professional practice was acquired or started during the course of the marriage, or if marital funds were used to acquire or support the business or professional practice, the asset will be considered fully or partially a marital asset.
This is a complex legal issue and this is why it is so important to work with the proven divorce attorneys at Dodd & Dodd Attorneys, PLLC who have extensive experience in Louisville divorce cases which involve a business or professional practice.
Protecting your interest in the division of a business or professional practice during a divorce requires extensive legal skill. If you are considering a divorce in Louisville or any of the surrounding communities or counties which involves the ownership of a business interest or professional practice it is important to contact the experienced family law, business and divorce attorneys at Dodd & Dodd or call us at 502-584-1108 to schedule an appointment.
Learn about Goodwill for a business in a divorce and all of the aspects of business valuation and the division of a business asset or professional practice in a Louisville divorce.
