July 18, 2022
When you buy a business, it’s given that you don’t want the owner to set up shop near your location since that would just drive business away from you. With that considered, a non-competition clause in a contract sale prohibits the seller from doing that within a set geographic area and within a set period.
General Issues in Business Valuation
Issues from a business valuation, whether due to a dissolution of marriage or otherwise, can arise in the process. Several technical and financial factors are considered when valuing a business, including asset value, multiples of income, industry trends and data, and other financial and business variables and analyses.
For instance, a divorce might constitute a spouse seeking a lower value for the business while the other seeks a higher value. There is also the issue of whether non-business expenses go through the business, reduce the business’ net income, and arrive at a business value. In some instances, one spouse might sense that the other spouse is hiding income, which has been true in many cases.
The Link between Non-Competition Clauses and Personal Goodwill
Business matters can be attributed to marital matters. With that in mind, a seller that requires a non-compete clause constitutes the existence of personal goodwill, such as people supporting the business due to that person. However, this may not always be the case.
For instance, suppose there is an existing business, and a new business sets up shop next door with an unknown owner and zero personal goodwill to the other business. In that case, customers would simply enter that shop randomly, not due to the person in that business. Still, the existing business would have plenty of reason not to want a competitor to set up shop next door even if no personal goodwill existed.
Still, in Florida court, the first case stating that personal goodwill exists on some level if a non-competition clause was required is generally accepted. Often the assumption is that the value must all or almost all be personal. Most cases associated with this matter involve a professional practice where most of the value of the business relies on personal goodwill.
How Is Personal Goodwill Valued?
The extent to which a non-competition clause indicates personal goodwill, or in other words, how much personal goodwill is valued in dollars, is related to how much business or income of value would be gone if the seller leaves. It can also be how much a buyer will willingly pay for the non-competition clause.
In most valuation reports, the value of the non-compete clause is associated with the present value of the income for the buyer that would be gone if the key person leaves the business.
The Collaborative Divorce Approach
Business valuations are complicated, especially when it relates to a dissolution of marriage. This is perhaps the most compelling reason why Collaborative Divorce is a much better approach to family law cases than a litigated and adversarial one. Sometimes, a case is much easier resolved when both parties speak to one valuation expert and update the other at all times, instead of both parties seeking separate valuation experts, who might present different values. In the latter case, each spouse might only end up trusting the other less regarding seeking a fair result.
Dorsey Law JAX specializes in a wide range of family law issues. We provide all services under family law, from injunctions against domestic violence to divorce processes. We work to negotiate settlements but will fearlessly take a case to trial when necessary. If you are looking for a divorce attorney in Jacksonville, Florida, we are more than willing to help. Get in touch with us today and let’s talk!
July 7, 2022
Divorce can be a difficult time for all parties involved. Luckily, an experienced divorce lawyer can help you work through the entire process. Indeed, choosing the right lawyer is crucial to get through this process stress-free. Now, we understand that choosing a lawyer can be tricky. There is a slew of different factors that you have to keep in mind when choosing a lawyer. This is why we thought it would be useful to put together a brief article on this subject. If this is something that you’re interested in learning more about, then we’ve got just the thing for you. Read on as we discuss three important factors that you need to consider when selecting a divorce attorney.
Work Experience
The first thing that you need to consider is their work experience. You’ll want to work with an experienced lawyer that specializes in divorce. While lawyers are generally familiar with the law as a whole, it will be beneficial to your case to work with one that is knowledgeable and experienced in these types of cases. Aside from having previous experience with these types of cases, you’ll also want to work with a lawyer who is knowledgeable on divorce laws for your specific state. This is because divorce can work differently depending on which state you reside in.
Honesty
Honesty is incredibly important when looking for a lawyer. The last thing that you want is to have a lawyer that only tells you what you want to hear. Your lawyer should be able to tell you as it is as this is the only way that you’ll arrive at the most amicable result. Now, it’s rather difficult to gauge a lawyer’s honesty. This is why we recommend meeting with all potential lawyers, so that you will have a better feel of the type of lawyer that they are.
Track Record
Finally, you’ll want to make sure the divorce lawyer you work with has a good track record. A divorce lawyer’s success in litigation for divorce cases is crucial, as you will want to work with a lawyer who has had a previous record of success when it comes to these types of cases. While it doesn’t automatically assure that you’ll get a good result, a lawyer’s record of success is a good way to determine how your case will play out. Choosing a lawyer with a history of successful litigations is still important even if you’re looking to reach a settlement outside of court. Remember, things won’t always go your way so you’ll need to keep your mind open to the possibility of litigation. You want to have a lawyer who is not afraid to go to trial.
Conclusion
We hope this article proves to be useful when it comes to helping you choose the right divorce lawyer. While it may seem tedious to take your time when selecting a lawyer, choosing the right one will allow you to effectively navigate the entire process. Be sure to keep everything you’ve learned here in mind so that you can make the most informed decisions when it comes to selecting a divorce lawyer to work with.
If you’re looking for experienced and knowledgeable divorce lawyers, then you’ve come to the right place. The Dorsey Law Firm has the best divorce lawyers in Jacksonville. We have over 35 years of experience when it comes to providing clients from all over Florida with legal services. Contact us today to set up your in-person appointment!
June 23, 2022
A child’s home should be their safe space. But unfortunately, many homes can be a toxic environment for a child to live in. A prime example would be a home where domestic violence runs rampant. Of course, you’d want to take a child away from an abusive parent to prevent further harm to the child. But child custody can be a bit tricky, especially when domestic violence is involved.
What Are the Child Custody Laws in Florida?
Child custody laws in Florida are meant to ensure that the child’s best interests are always considered. The goal is to protect the child’s right to their parent and their right to live in a safe home. As a parent, you have the right to know the whereabouts of your child. The child also has the right to know their parent.
However, the court may modify or terminate the parenting plan if one of the following applies:
- The child’s safety is at risk
- The child’s emotional development is at risk
If one of these circumstances is present, the court may modify the original parenting plan. But what does this mean for parental rights?
What Else Does Child Custody Involve?
The court will also make a decision regarding what a child’s primary residence will be. As a parent, you have the right to your child’s decision. You will not be able to force your child to move to a different state if they don’t want to. The court will ultimately decide where your child will live when it comes to their primary residence.
You also have the right to speak to your child’s doctor. However, if the court finds that your involvement in the child’s life is unnecessary, the court may modify your parenting plan. They may decide that you should have no contact with the child’s doctor.
And if domestic violence is involved, the judge may decide to terminate your parental rights if the abuse is severe. It’s important to note that this will not affect the child’s right to their parent. Your child will still have the right to decide where they live.
What Happens to Your Child When You Have an Abusive Partner?
If you are involved in an abusive relationship, and you fear for the safety of your child, there is a possibility that the court may terminate your parental rights. However, there are two factors that will be considered. The first is the severity of the abuse you’ve experienced. The court will take into consideration how severe the abuse was.
The court also considers how severe the abuse was to your child. The court may consider if your abusive partner also abused your child. The court will also consider if you have a history of abusing your child.
Final Thoughts
Domestic abuse is a personal and sensitive matter. If you’re a victim of domestic abuse, you may want to talk to a family law attorney about your options. Your lawyer can help you navigate through the family court system and ensure the safety of your child.
Get the legal aid you need for matters of domestic violence and child custody from Dorsey Law JAX. Our firm counsels clients on a wide range of family law issues. Our services include all family law matters, from short-term and emergency situations, such as injunctions against domestic violence, to processing a final divorce and post-judgment modifications of support and custody. Get in touch with us today!
