S10 Ep21: What Happens to Professional Practices in Divorce?

#ChooseGoldman Professional practices started during a marriage are considered marital assets that require expert valuation to ensure a fair division. Attorney Akiva Goldman explains that Michigan courts look beyond salary to evaluate the business as a financial engine, focusing on ownership structure and profit margins. • A professional practice is a marital asset if it was started or grew during the marriage. • Experts perform detailed business valuations to determine the actual worth of the practice. • Valuation considers the total income generated, including perks and ownership structure. • Business efficiency and profit margins are more significant than total revenue for valuation. • Courts distinguish between personal goodwill (reputation) and enterprise goodwill (systems and brand). 📞 (248) 590-6600 Call/Text 📅 For a Complimentary Phone Case Evaluation: https://app.acuityscheduling.com/schedule.php?owner=17105687&appointmentType=18529428 Click here to watch the video: https://youtu.be/NldrdMW_2K0 For more information: https://akivagoldman.com/michigan-divorce-lawyer ⬇️ Download Divorce & Custody Survival Guide. Click here: https://akivagoldman.com/free-legal-ebook/ Learn more in our blog: https://akivagoldman.com/blog/divorce/what-happens-to-professional-practices-in-divorce Visit us at ChooseGoldman.com #Goldmanandassociateslawfirm #ChooseGoldman #ChooseGoldmanLaw #MichiganDivorce #BusinessValuation #AssetDivision #ProfessionalPractice #MichiganLawyer #DivorceLaw #LegalAdvice