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January 2014 Archives

My spouse owns his own business. Am I entitled to a portion of it?

In Northern Virginia, it is not uncommon for a divorcing spouse to own an interest in a business, either one that he also works for or one that is purely an investment. In either circumstance, the business interest can be classified as marital, separate, or hybrid property, just like any other asset. Even if the business's ownership is solely in one spouse's name, the other may possess an equitable interest that may be awarded by a court in equitable distribution. Given the prevalence of this issue in divorce matters in this geographic region, you should have little trouble finding a qualified attorney who has significant experience in dealing with the equitable distribution of business interests. The below is offered as an introductory primer to help you understand the business valuation process, and the respective roles that you, your attorney and the court play in that process.

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Duff & Kronfeld, P.C.
11320 Random Hills Road, Suite 630
Fair Oaks Commerce Center
Fairfax, VA 22030

Phone: 703-591-7475
Fax: 703-273-4537
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