If you are a business owner facing a divorce, things can get complex quickly. You could be facing very serious emotional decisions while also trying to safeguard a business that you’ve worked hard to grow or maintain. As a business owner, you also have others you are responsible for, and decisions you make about your business impact your employees and your customers.
We work with our clients who are business owners to try to balance concerns of family with those of business. On top of helping you work toward child custody, support and alimony arrangements that make it possible for you to move forward with your life, we can also help you understand how your business plays a role in your divorce.
The first thing you’ll need to consider is whether your business is at risk in the divorce. Was your business fully established before your marriage, and did you have a prenuptial agreement to protect your business in case the marriage ended? Did you start the business during your marriage and put a lot of time and effort into the business before it made money and benefited you or your spouse in anyway? These questions are just some that might be asked if asset division including your business goes to court.
Going into a divorce, it’s important to understand the value of your business, which means working with professionals to get a business valuation. This helps you know how much bargaining you might have to do with your spouse so you can keep the business. Whether you intend to sell a business and start fresh or keep the business without involvement of your spouse, we work with you to create a strategy that increases your chance at a more positive outcome.