Businesses and Community Property | Tessmer Law Firm
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Businesses and Community Property

A business or professional practice can also be community property and must also be considered in the division of property. Probably the most difficult aspect of determining the value of a business or professional practice is the valuing of “goodwill”.  Goodwill is the intangible value that most businesses have based on their name or reputation.  Even a business that cannot be sold has a goodwill value, which must be ascertained when the couple divorces.  Again, having a qualified Family Law attorney on your side in a case like this is crucial, because he will bring in a CPA or business appraiser to review the books and business records and report an accurate value.