Divorce and Business Assets
A dollar invested in a business is not a dollar invested in the matrimonial home.
You keep the matrimonial home, I keep the business.
This common structure of settlement is not always fair or prudent. One dollar in equity in a home can be worth more (or less) than one dollar of equity in a business. The considerations in valuing this equity can be very complex, including significant tax considerations.
Furthermore, the future income flow from the business may be subject to claims for child and spousal support. Sophisticated legal advice is required to properly value and consider how these very different assets impact on a fair and reasonable divorce settlement.
Elliot S. Birnboim is particularly suited to help navigate these issues. As the Toronto lawyer at the heart of MatrimonialHome.com, he executes out-of-the-box, strategic legal strategy for property division and custody issues. In addition to his credentials as an experienced family law lawyer, Elliot has an extensive business litigation practice over the past two decades. He practices at Chitiz Pathak LLP, a downtown Toronto business law firm.
Call us for a free consultation.
To learn more about divorce in Ontario and valuation of family businesses, schedule a meeting with the firm. You can arrange a consultation by calling 1.800.648.7943 or 416-800-2573, or by using our online contact form.