The Business Owner’s Divorce: Protecting Your Professional Practice
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Episode Summary:
Rhett Burney delves into the intricate world of protecting businesses during divorces, discussing how courts determine business values, the impact of personal versus enterprise reputation, and the role of forensic accountants. Rhett also addresses key legal steps for business owners facing divorce, emphasizing the importance of early legal consultation and safeguarding business assets.
Key Timestamps:
00:00 – Introduction
01:30 – Determining Fair Market Value of a Business
04:15 – Personal Reputation vs. Enterprise Reputation
06:20 – Impact of Business Owner's Income in Divorce
08:45 – Treatment of Businesses Started Before Marriage
11:10 – Role of Forensic Accountants in Divorce Cases
14:00 – Legal Steps for Documenting Separate Business Assets
About the Show:
Join attorney Rhett Burney on *Off the Record*, a podcast that dives into key topics in family law, estate planning, and probate. With over three decades of experience guiding families through legal matters, Rhett shares practical insights and real-world expertise.