Division Of Businesses In Divorce
Dividing a business during a divorce is a multilayered process, one that varies dramatically from case to case based on the situation. For some, this is purely a financial issue. For others, there are emotional ties to the family business that are just as important as the money.
If you are getting a divorce and you or your spouse own a business, it is important that you choose a lawyer who is experienced in these matters. Choosing a lawyer whose knowledge is limited to the typical division of homes and bank accounts puts you at risk of extending the length and cost of your divorce, and possibly of losing your interest in the business.
At Kelton & Teichner in Queens and Long Island, New York, we have more than 30 years of experience with these complex matters. Whether your case involves a small, family-owned business or interests in a larger endeavor, our Nassau County attorneys are prepared to protect what is yours.
A Solution To Fit The Situation
There are countless variations of property division when it comes to business ownership.
Perhaps you started the business long before you were married, but it continued to increase in value during your marriage, meaning a portion of it may be subject to property division. Perhaps you are a partner at a larger organization. Perhaps you are a co-owner of a medical practice, along with several other doctors, dentists or medical professionals.
Perhaps your spouse owns the company, but you have put in a substantial amount of work to help it grow to the place it is today, and you want your portion of the property division to reflect the time you put in. Whatever the case may be, our attorneys can help.
In these cases, the question often arises as to what gives the business its value. Often, the answer is the owner, who puts in most of the work and without whom the venture would fail. This is an important consideration when determining how to divide a business in divorce. We work with forensic accountants and experts on valuation to determine the value of the business in order to move forward with a fair division of property.
Free Telephone Consultation About Business Division
We provide free initial telephone consultations, promptly return phone calls, accept credit cards, offer flexible fee schedules. We are easily accessible via public transit. On-site parking is also available. Email our attorneys or call us at 800-419-7751. We are fluent in Spanish.