BUSINESS OWNERSHIP & DIVORCE
Legal Help in Rhode Island Business Divorces
East Greenwich Business Divorce Lawyer
One of the more challenging issues in a divorce is the handling of business interests. This could mean the division of a business owned and operated jointly by the couple, or it could be determining whether there is a valid marital claim on the assets of a business operated by only one spouse.
East Greenwich business divorce lawyer Kerry I. Rafanelli has decades of experiencing helping clients with complex property division matters in Rhode Island divorce . This includes the valuation of businesses and the division of business assets. His business divorce cases have involved businesses ranging from $2 million to $20 million .
If you have concerns about how business ownership and business assets will be handled in your upcoming divorce, call Kerry Rafanelli at 401-398-8388 or contact our law office online to schedule a consultation.
Getting an accurate appraisal of the value of a business
There are a few ways of establishing the value of a business. An appraiser, or business valuator, will look at the company’s financial data and will choose a sales approach or an income approach, or the appraiser may do more than one appraisal with the goal that the most accurate value will fall between the two. In addition to looking at financial records, it may also be valuable to see how the partners handle the books. The appraiser may identify accounting errors or material facts that will affect current or future value of the business.
Securing the business during the process of divorce
If the divorce is acrimonious, there may be a concern that one of the business partners may improperly spend down business assets or divert business assets for personal gain. (This can happen with any personal asset.) Your lawyer can take your concern to the family court judge to request an injunction to prevent the “wasting of assets” of the business.
Keeping the business operational
In many cases, business-owning spouses do not want to cause financial harm to the business. They simply want to find a way for one partner to exit the business with their fair share of the assets. Protecting the continued healthy operation of the business may be vital to ensuring continued payment of child support or alimony. Mr. Rafanelli can help you explore buy-out or equity options.
Protecting your financial interests in a business
Call Kerry Rafanelli at 401-398-8388 if you are beginning a divorce that will include consideration of a business. Put 30 years of divorce experience to work to protect your financial interest in a company.
Providence family law attorney
Kerry I. Rafanelli
Contact Us
Kerry Rafanelli,
Attorney At Law
OUR ADDRESS:
Kerry I Rafanelli, Attorney at Law
670 Main Street, Suite C-4
East Greenwich, RI 02818
PHONE NO.
401-398-8388
FAX NO.
401-398-8399
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all questions
Frequently
Asked Questions
Consult an experienced Rhode Island divorce attorney for answers to your questions. Call Kerry I. Rafanelli, Attorney at Law, at 401-398-8388 or contact us online to schedule your consultation at our East Greenwich law office.
Should I retain a lawyer if my fiancé's attorney has already drawn up a prenuptial agreement?
Both parties to a prenuptial agreement should be represented so that you can feel confident that the contract is fair to you.
Am I considered the parent once my adoption of a child is finalized?
At the completion of your adoption, you acquire all the rights and responsibilities of a parent–including making important childrearing decisions and providing your child with financial support. Your child gains all the rights as your natural children would have involving inheritance, immigration, government benefits and healthcare coverage.
Am I entitled to visitation rights as soon as I affirm my paternity of my child?
In most cases, you are entitled to visitation with your child, but you must file a petition with the court requesting visitation.
Am I entitled to child support as soon as the father's paternity is positively affirmed?
You are entitled to financial support from the father, but you must file a petition with the court requesting child support. You may be entitled to support from previous years as well.
What is the difference between guardianship and adoption?
Adoptive parents acquire all the rights of natural parents. Guardians have legal and physical custody, but are not considered the parents of the child and must periodically appear before the court to give updates on the child’s status. In some cases, the birth parents may retain their parental rights.
Is my former spouse permitted to move my child to another state?
A custodial parent must petition the court to relocate with your child to another state. You can object to the move and present evidence at a court hearing.
What does the court consider in relocation cases?
The court considers what is in the best interest of your child — including financial advantages of the move, educational opportunities, the existence of extended family in both locations, the nature of the child’s relationship with each parent, and the logistics of visitation with the noncustodial parent.
How can I learn more about family law?
Call Kerry I. Rafanelli, Attorney at Law or contact us online to schedule your no-obligation, free consultation and get the answers to all of your family law questions.