Too often, a thriving business cannot withstand the life-altering tremors of a divorce process. This may result as a disagreement over how to split assets, or sale of the business to supply you money. Highly experienced divorce lawyers can help you save your business from ruin. Arturo R. Alfonso P.A. has helped couples throughout Miami get through this difficult process, achieving many successful outcomes for our clients. Is your business in trouble? Set up a case evaluation with the best divorce lawyers near me. Call now.
How Divorce May Affect Your Business’ Ownership Status
Generally, most divorce processes revolve around settling the division of joint assets, including property, vehicles and appliances, bank accounts, retirement accounts, and sometimes even the family business. Whether the business was started by one spouse prior to marriage, the prominence of roles each spouse plays in the business, how each foresees the future running of the business, and more can all affect the outcome of the business’s ownership status (and whether or not you lose your business).
There are several ways in which ownership of the business can be handled:
- Sometimes, if the divorce is a more civil one, spouses may find that they are willing to continue working together as business partners. This means they will be able to continue as co-owners, neither relinquishing their claim, nor needing to have the business appraised.
- Sometimes one spouse will want to continue operating the business, but the other will not. This usually results in the former buying the latter out of their share. In this case, the business will need appraisal.
- Other times, both spouses will simply want to sell, ending their involvement with the business. From this, the couple will split the proceeds of the sale, and the business as a whole will need to be appraised.
These, of course, do not encompass every scenario you may encounter regarding business ownership during your divorce. And the negotiation process to get to these points will not always be so straightforward. That is why you will want highly competent divorce lawyers near me to fight on your behalf through this grueling, complex process.
Get Help From Experienced Divorce Lawyers
Divorce is already a stressful, complicated process. The ownership of a business can make the divorce even more complicated (and expensive). This is due to several factors: first you will need to determine the value of the business, which will involve a number of evaluation processes. Then you will need to split (or sell) the business fairly, depending on what the couple decides to do with it. This will entail many discussions, negotiation, etc. Sometimes, you may even want to challenge a prenuptial agreement. For all of this, you will need an experienced lawyer, like Arturo R. Alfonso. Our expertise and ample experience with these situations greatly increase your chances of coming out with a favorable settlement on your behalf. Check out one of the most highly qualified divorce lawyers near me today!
Looking for skilled divorce lawyers in Miami? Arturo R. Alfonso P.A. has 25 years of experience gaining success for our clients, including keeping their stakes in their own business! Schedule a consultation now!