Here When
You Need Us

Blog

Protecting business interests in divorce may be a priority

Having a business can be a point of pride in many California residents' lives. However, when a married business owner faces divorce, many concerns may arise about potentially losing a portion of the business assets during the proceedings. In the best cases, business owners could consider protecting business interests in divorce before the process begins.

Some individuals may even wish to consider their business interests before tying the knot. Concerned parties may be able to be proactive in this respect by creating a prenuptial agreement. This agreement can stipulate certain property division terms and how business assets should be addressed during this process. Hopefully, a non-business spouse would waive any interest in the company so that the business owner maintains ownership of all business-related property.

Business owners may also want to pay attention to business valuation. Though knowing the value of a company can play an important role in buying and selling a business, valuation during divorce may be different than in a standard transfer. Therefore, owners may want to understand what considerations could go into the valuation and how the results could impact property division.

Protecting business interests in divorce may take many forms. In order to take the action that best suits their needs and desires, interested California residents may want to explore their options and find out more information on how ending a marriage could impact a business. Consulting with knowledgeable attorneys may help concerned individuals determine what options may work in their best interests and those of their companies.

Source: njbiz.com, "How to protect your family business from a divorce", Jennifer Millner, Nov. 14, 2017

No Comments

Leave a comment
Comment Information
Email Us For A Response