Business Assets & Your Divorce

Dividing Your Interests with Help from a Maitland Divorce Lawyer

If your assets include a business, either family-owned or a company that you began prior to your marriage, having an experienced family law attorney to protect your interests is a vital component of a successful divorce action.

A number of things that occur in the course of a marriage can affect how business assets are categorized in a divorce agreement. At The Troum Law Firm, P.A., we work with a variety of professional experts, including appraisers, business valuators and forensic accountants.

Contact our Maitland divorce lawyer today to get nearly 30 years of experience on your side.

Protecting Your Best Interests

We understand that a family-owned business is much more than a source of income. We listen carefully to your goals regarding participation in the company after your divorce is final and map out a strategy to achieve those goals.

Often, the best approach to properly valuing a family business is to hire an independent business appraiser such as a CPA with an accredited in business valuation (ABV) credential or a certified professional, like a certified business appraiser (CBA). These professional valuators begin by obtaining all business books and records, tax returns, financial statements and reports for at least the last five years.

Assisting You Through the Entire Process

We are prepared to handle all possible courses of action, including the sale of a family business, dissolving a business or crafting a property agreement that compensates a spouse for his or her contribution to the business. If only one spouse was involved in the business, the rights of the other spouse regarding division of assets under Florida's "equitable distribution" statute vary based on a number of factors.

These include:

  • The duration of the marriage
  • The contributions to the marriage, including contributions to the care and education of any children and services as a homemaker
  • Whether the nonbusiness owner supported the other during school or as the business was launched
  • Any stipulations of a prenuptial agreement

Examining All of Your Options

It may be possible for both parties to continue a business partnership even after they divorce. If you choose this option, however, it is advisable to develop a detailed exit strategy that amicably ends the partnership, if necessary, in the future. The exit strategy should include a description of the value that one or both of you will receive if the business relationship ends.

If your divorce includes business property among marital assets, The Troum Law Firm, P.A., has the experience you can rely upon to guide you in obtaining a full and fair asset valuation and property division.

Call us at (321) 428-2247 for an individual consultation.