Business Valuation Divorce Lawyer Brooklyn, NY
You’ve invested years building a business in Brooklyn — maybe a design studio in DUMBO, a fabrication shop in Sunset Park, or a restaurant group with locations across Williamsburg and Cobble Hill. Now your marriage is ending, and one of the most pressing questions you face is what happens to that business. Is it marital property? How will a court value it? Will you have to buy out your spouse or sell what you’ve built? Divorce is never simple, but when a privately held business is on the line, the financial stakes — and the complexity — rise sharply. Mr. Sris and his Of Counsel team at Law Offices Of SRIS, P.C. understand what’s at risk and concentrate on guiding business owners through the divorce process in Kings County. Reach us at (888) 437-7747 to request a consultation. Law Offices Of SRIS, P.C. – Advocacy Without Borders.
Your Business in a Brooklyn Divorce: Strategy Options
When you own a business, your divorce strategy needs to account for more than just dividing a house or retirement account. In New York, equitable distribution under Domestic Relations Law § 236 governs how marital property is divided. A business started during the marriage is presumptively marital, and even a pre-marital business can become part marital if it grew in value during the marriage. Mr. Sris and his Of Counsel work with business owners to develop a clear approach — whether that means negotiating a settlement that keeps the business intact, presenting a valuation through forensic accounting, or litigating the classification of the asset. The court will consider factors such as how and when the business was acquired, the contributions of each spouse, and the tax consequences of any division. Our goal is to help you make informed decisions while protecting what you’ve built.
What to Expect When a Business Is Valued in a Brooklyn Divorce
Divorce cases involving business valuation are handled in Kings County Supreme Court at 360 Adams Street, Brooklyn, NY 11201. The process typically begins with a statement of net worth and mandatory automatic orders that freeze certain assets upon filing. Once a divorce is commenced, both sides may engage forensic accountants to value the business. Valuation methods in New York can include asset-based approaches, income capitalization, and market comparison, depending on the nature of the business. The court may also consider “personal goodwill” — the value attributable to the owner’s own skills and relationships, which is generally not divisible — versus “enterprise goodwill,” which can be part of the marital estate. Mr. Sris and his Of Counsel help you understand which valuation method is likely to apply to your industry and how to challenge or support those figures. Throughout the case, you may also address spousal support (maintenance), which is influenced by the income and value of the business, as well as child support and custody if those are at issue.
Legal Standards and What’s at Stake
New York courts do not aim for a 50/50 split but rather an equitable distribution of marital property. The court weighs numerous factors, including the duration of the marriage, each spouse’s contributions as a homemaker or business partner, the liquid versus non-liquid nature of the business, and the tax impact of any proposed division. A poorly handled business valuation can mean a forced sale, a costly buyout, or a maintenance award that strains cash flow. Because the outcome directly affects your ability to continue operating the business post-divorce, working with counsel who can effectively coordinate forensic experts and present a persuasive valuation is critical. Mr. Sris and his Of Counsel have extensive experience in high-net-worth and business-owner divorces, and they work to reach resolutions that preserve business continuity.
About Mr. Sris and His Of Counsel Team
Mr. Sris is the Owner and Founder of Law Offices Of SRIS, P.C., a firm he established in 1997. A former prosecutor, he brings decades of litigation experience to family law matters, including complex divorce cases. He is admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York, and he has testified before the Virginia House Courts of Justice Committee in support of 2019 HB 635, which revised Virginia’s equitable distribution statute. His Of Counsel team — each an experienced attorney in their own right — shares his commitment to thorough preparation and client-focused advocacy. Together, Mr. Sris and his Of Counsel bring over 120 years of combined legal experience. Results may vary. They have documented 4,739+ case results across all practice areas since 1997.
Frequently Asked Questions
How is a business valued in a Brooklyn divorce?
In New York, a business is valued as of the date of commencement of the divorce action. A forensic accountant, often jointly retained or engaged by each side, will examine financial records, market conditions, and industry norms to produce an opinion of fair market value. The court then decides which valuation method is most appropriate. Mr. Sris and his Of Counsel coordinate that experienced attorney work and present it effectively in settlement discussions or at trial.
Will my spouse get half of my business in a New York divorce?
Not necessarily. New York is an equitable distribution state, meaning marital property — including a business or the increase in value of a separate property business — is divided fairly, not always equally. The court considers many factors under DRL § 236 to determine what is equitable. An experienced attorney can argue for a distribution that reflects the source of the business, your contributions, and the practical need to keep the business operating.
What if I started the business before the marriage?
A business you owned before marriage is your separate property, but any increase in value during the marriage that results from active efforts (not passive market forces) may be considered marital property. The classification requires careful tracing of assets and analysis of your post-marriage contributions. Mr. Sris and his Of Counsel help you trace the business’s history to protect your separate interest.
How long does a business valuation divorce take in Brooklyn?
Timelines vary depending on the complexity of the business, the availability of financial records, and the court’s calendar. In Kings County Supreme Court, uncontested divorces may be finalized in a few months, but a contested business valuation case can take over a year, particularly if multiple attorneys are involved and the matter goes to trial. Our location works to move your case forward while ensuring the valuation is handled thoroughly.
Do I need a lawyer for a divorce involving a business in Brooklyn?
Yes. Business valuation divorce involves high-stakes financial decisions and technical legal and accounting concepts. Attempting to handle it without counsel can put both your business and your financial future at unnecessary risk. Mr. Sris and his Of Counsel have substantial experience in complex divorce matters and can guide you through each step.
Can we settle without going to court?
Many business valuation divorces are resolved through negotiation, mediation, or the collaborative process rather than a trial. Mr. Sris and his Of Counsel work toward negotiated settlements whenever possible, which can save time, expense, and the uncertainty of litigation. If a fair settlement cannot be reached, they are prepared to present a compelling case in court.
What court handles divorce in Brooklyn?
Divorce and equitable distribution matters are filed in Kings County Supreme Court, located at 360 Adams Street, Brooklyn, NY 11201. Support, custody, and family offense petitions are handled in Kings County Family Court. Mr. Sris and his Of Counsel appear regularly in both courts.
How do I get started?
To discuss your specific situation, reach Law Offices Of SRIS, P.C. at (888) 437-7747 to schedule a consultation. We serve clients throughout Brooklyn, including Downtown, Williamsburg, Park Slope, DUMBO, Brooklyn Heights, Bushwick, Crown Heights, Flatbush, Bay Ridge, Bed-Stuy, Bensonhurst, Coney Island, Brownsville, and Sunset Park.
For a more detailed statutory analysis of New York divorce laws, visit our firm’s comprehensive guide at srislawyer.com.
Reach Law Offices Of SRIS, P.C. | (888) 437-7747
50 Fountain Plaza, Suite 1400, Office No. 142, Buffalo, NY 14202
By appointment. Call to schedule.
Attorney advertising. Prior results do not guarantee a similar outcome. Case results depend on a variety of factors unique to each case. Results may vary.