The standard of value in divorce cases are state specific. In a recent case decided by the Utah Court of Appeals, Elman v. Elman, 45 P.3d 176, the court awarded the wife a share of the husband’s corporate business interests because of “sweat equity” in allowing the husband to work 60 to 70 hours per week to make the business grow. The court may award up to 50 percent of the value of the business to the non-principal spouse.
Whether you are seeking shares of your spouse’s business or you are trying to retain control of your business, Ted Weckel, Attorney at Law can help you. Backed by nearly three decades of experience in Utah family law, our business valuation lawyer in Salt Lake City has a comprehensive understanding of this practice area. We can defend your rights and best interests as we navigate you through each stage of the legal process.
Fair Market Value
A problem arises when the court attempts to segregate good will from the fair market value of the business. In the Utah Supreme Court case, Sorensen v. Sorensen, 839 P.2d 774, the court ruled that the reputation of a professional is solely personal. The only assets available for a professional business are the accounts receivable and hard assets less the debts. Alimony is the only way to share the fruits of the business. However, in a traditional business, good will can be valued and divided as part of the business assets in a divorce.
You should hire Ted Weckel, Attorney at Law for your business valuation needs because:
- Our firm has been helping clients resolve these types of problems since 1991.
- We are a small firm, meaning we give each of our clients 100 percent of attention and time.
- Our attorney has a track record of success spanning more than 30 years.
- We truly care about our clients, and we are committed to helping them achieve their goals.
To schedule your initial consultation with our business valuation lawyer in Salt Lake City, call Ted Weckel, Attorney at Law today at (801) 845-9029.
He remained calm and supportive throughout all the proceedings.Richard
Always kept our options open and communicated.Suzanne R.
Breaks all the stereotypes of what you would expect from a lawyer.Nick O.
Why Experience Matters
Having been a member of the bar since 1991, Ted has expertise in divorce, child custody, or alimony modification is needed to protect your rights and quality of life. Judges and opposing attorneys in Utah are more persuaded by a lawyer who exhibits knowledge of the law, preparation, and respect.
A Zealous Advocate
As a professional family law attorney in Salt Lake City, Ted is knowledgeable, collaborative and personable. He is a zealous advocate for his clients with a great deal of successful courtroom and mediation experience. We understand that expertise and integrity is key.
Practicing Law Since 1991
Hundreds of Successful Mediations or Verdicts
Prepares an In-Depth Strategy for Every Case
18 Published Appellate Opinions
6 Years Experience as a Judge Pro Tempore
Since 1993, our team at Ted Weckel, Attorney at Law has been helping clients throughout Salt Lake City and the surrounding areas resolve their family law problems. We can help you, too. To speak with our knowledgeable attorney, reach out to our firm and schedule a consultation. You can rely on us for well-informed advice and strong representation.