As the previous poster said, you need local advice as most of us here won't be familiar with the rules and practices in your jurisdiction.
In my case, my stbx-wife and I jointly owned (50/50) a business organized as an s-corporation (as they are called here). We both worked in the business, although I did more, and were compensated with wages accordingly. It was an equipment-intensive business, and most years profits were re-invested in "new" equipment for the business. Any other profits were either retained by the business, or given in equal distributions to each of us.
So the business had assets, both tangible property and money in the bank. We were eventually able to agree on a valuation of the tangible property, and thus together with cash on hand, the overall value of the business. With that, she bought out my 50% share of the business using cash from the business (so really, a share buy-back). I in turn bought a few items of the business's tangible property that she wasn't going to use (so the net payout was effectively reduced by that).
We ignored the value of "goodwill" in determining the overall value since I can't take the business with me -- it's tied to real estate that she owns -- and she can continue to operate the business (on a more limited basis) and rely on that income in lieu of spousal support from me.
So not sure how that helps you figure out your situation, where all of your business's assets and goodwill is tied up in YOU. Her 30% stake would seem to entitle her to a 30% share in all the net income you generate going forward -- perhaps in lieu of any other type of spousal support (maintenance). Otherwise you would need to buy her out, somehow. If between the two of you, you can come up with and =agree on a valuation of the business on your own, then you don't necessarily need to involve an outside appraiser (unless it would be required by the courts in your jurisdiction?).
Or you just close up the LTD and continue operating as a sole proprietor going forward?
[This message edited by TurnedTurtle at 6:58 PM, Friday, May 20th]
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