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The Divorcing Professional/Business Owner

The Divorcing Professional/Business Owner

Professionals often have property settlement and support issues that include more complicated asset valuation such as business assets, retirement accounts, sheltered investments long-term securities options, deferred compensation, and generational wealth.

At the law offices of Lynn Landis-Brown, P.C., we are sensitive to issues that may arise during a divorce that are important to professionals and their spouses. These issues may include:

  • Valuation of a Business Interest
  • High-Earner Child Support
  • Investment of Marital Assets into a Business
  • Contribution of Stay-at-Home Parent to a Spouse who Obtained a Professional Degree
  • Spousal Support (Maintenance, Alimony)
  • Division of Retirement Accounts
  • Tax Implications of Divorce
  • Bonus Income
  • Income from Self-Employment

High-Earner Child Support

In the state of Colorado, child support is determined in accordance with a set of child support guidelines. However, when the gross income of parents exceed the uppermost level of income for which the guidelines were set, Colorado judges have considerable discretion to deviate from the guidelines to award a higher or lower child support award. Since judges have such a high level of discretion, it is important to obtain legal counsel in family law matters involving high-income professionals.

Business Valuation

Many divorce clients are surprised to learn that a business established during the marriage is considered marital property to be divided during a divorce. Due to the wide variety of business types which included varied organizational and accounting methodologies, the most factually and legally complex area of divorce law is often valuation of a business. As a business owner facing divorce, there is the additional challenge of presenting and explaining these issues to a family law judge who may have very little of the accounting or financial theory background necessary to readily understand testimony of the business appraisers. Additionally, because Colorado law does not support any one hard and fast method of business valuation, it is important to obtain the advice of a family law attorney who is familiar with the business valuation experts available to help you present the most favorable view of your business for valuation purposes. A lawyer in a matrimonial case has to be able to effectively work with the valuator to simply explain to the court the series of complex calculations which are at the heart of a business valuation.

At the Colorado law offices of Lynn Landis-Brown, P.C., we are sensitive to these issues and prepared to deal with the special concerns of the business and professional divorce.

Lynn Landis-Brown, P.C., represents clients in the Pikes Peak area, Front Range area, and Rocky Mountain area of Colorado, including Colorado Springs, Castle Rock, Monument, Woodmoor, Broadmoor, Manitou Springs, Fort Carson, Fountain, Cimarron Hills, Black Forest, Canon City, Woodland Park, Cripple Creek, Victor, Parker, Pueblo, Peterson Air Force Base, Schriever Air Force Base, Cheyenne Mountain Air Force Station; United States Northern Command (NORTHCOM), Northern American Aerospace Defense Command (NORAD), United States Air Force Academy (USAFA), El Paso County, Teller County, Douglas County, Adams County, Elbert County and Fremont County.