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My Spouse Owns a Business. How Is It Valued in Our Divorce? - Richard Roman Shum
From Law Office of Richard Roman Shum, Esq. – My Spouse Owns a Business. How Is It Valued in Our Divorce? explores the complicated world of dividing a business when one spouse pursues a divorce in New York. Hosted by Richard Roman Shum, this podcast dives into how a business can shift from separate property to marital property under New York’s equitable distribution regime described in Domestic Relations Law § 236. It breaks down in clear terms when a spouse’s company — whether founded before the marriage or built during it — becomes a shared asset that must be valued.
In the second episode, the show looks behind the scenes at the role of forensic accountants and business valuation professionals who determine what the fair market value of the business is. It explains the significance of the valuation date, either the date of commencement of the divorce action or the trial date, and how goodwill — both enterprise and professional — can factor into the valuation. Listeners will hear how classification as marital property versus separate property hinges on questions like: Did marital funds support expansion? Did both spouses contribute to the growth?
The third part of the podcast focuses on real-world outcomes: What happens when the business is valued and must be divided? Richard Roman Shum walks through typical resolution paths: a buyout where one spouse purchases the other’s interest; an asset offset where the business owner keeps the company and compensates the other spouse with different marital assets; or rare co-ownership scenarios. He also discusses how the structure and liquidity of the business matter — for example, privately held firms, closely held corporations, or professional practices where personal goodwill dominates.
Finally, listeners are guided on how to protect their interests when a spouse owns a business. Whether you’re the business-owning spouse or the non-owning spouse, the podcast offers strategic insights: keep clear records separating business and personal finances, engage early with valuation professionals, understand the jurisdiction’s law in New York, and plan how marital contributions might convert a formerly separate enterprise into a divisible asset. This episode gives you a roadmap for navigating one of the most complex parts of divorce.
Law Office of Richard Roman Shum, Esq
20 Clinton St FRNT 5D, New York, NY 10002, United States
(646) 259-3416
https://www.google.com/maps?cid=3597344583150276913
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By Viktoria AltmanFrom Law Office of Richard Roman Shum, Esq. – My Spouse Owns a Business. How Is It Valued in Our Divorce? explores the complicated world of dividing a business when one spouse pursues a divorce in New York. Hosted by Richard Roman Shum, this podcast dives into how a business can shift from separate property to marital property under New York’s equitable distribution regime described in Domestic Relations Law § 236. It breaks down in clear terms when a spouse’s company — whether founded before the marriage or built during it — becomes a shared asset that must be valued.
In the second episode, the show looks behind the scenes at the role of forensic accountants and business valuation professionals who determine what the fair market value of the business is. It explains the significance of the valuation date, either the date of commencement of the divorce action or the trial date, and how goodwill — both enterprise and professional — can factor into the valuation. Listeners will hear how classification as marital property versus separate property hinges on questions like: Did marital funds support expansion? Did both spouses contribute to the growth?
The third part of the podcast focuses on real-world outcomes: What happens when the business is valued and must be divided? Richard Roman Shum walks through typical resolution paths: a buyout where one spouse purchases the other’s interest; an asset offset where the business owner keeps the company and compensates the other spouse with different marital assets; or rare co-ownership scenarios. He also discusses how the structure and liquidity of the business matter — for example, privately held firms, closely held corporations, or professional practices where personal goodwill dominates.
Finally, listeners are guided on how to protect their interests when a spouse owns a business. Whether you’re the business-owning spouse or the non-owning spouse, the podcast offers strategic insights: keep clear records separating business and personal finances, engage early with valuation professionals, understand the jurisdiction’s law in New York, and plan how marital contributions might convert a formerly separate enterprise into a divisible asset. This episode gives you a roadmap for navigating one of the most complex parts of divorce.
Law Office of Richard Roman Shum, Esq
20 Clinton St FRNT 5D, New York, NY 10002, United States
(646) 259-3416
https://www.google.com/maps?cid=3597344583150276913