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Business ownership can complicate the divorce process

For any number of reasons, a happy marriage can eventually end on the path to divorce. For business owners, perhaps it is due to long hours spent on the job, building a sustainable and profitable venture -- hours that, unfortunately, are lost from the relationship. Regardless of the reason, however, if you own part or all of a company, that will be part of the assets considered in property division.

There are a lot of questions that will come up at this point. What will happen to my business? Will my former spouse be a part of my company moving forward? What are my options? In such trying times, it can be invaluable to have an experienced professional there to answer questions and guide you through the process.

There are a number of items of marital property that will need to be valued and eventually disbursed between the divorcing part. Bank accounts -- or even retirement accounts -- are often included, as might be the shared home or vacation properties. In addition to these assets, however, you will need to consider any debts you currently carry, including those from credit cards or other sources. In some cases, if the most important thing to one divorcee is the business, it may be possible to retain full control by giving up other assets.

For a couple that has a diverse portfolio of marital assets, property division can appear to be a very daunting challenge. However, with the right help from an experienced law firm, your best interests can be protected at every step of the way. For more information about the process of dividing assets, feel free to visit our property division page.

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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