Divorce can be a complicated matter, even when spouses have minimal property and assets. When one or both spouses own a business, the matter can become even more complex. Your business is your livelihood, and it is critical to protect the company and your ownership interests whenever possible. Seek help from a divorce lawyer in Boca Raton who can help ensure that you achieve your business-related goals in your divorce case.
Business Interests as Marital Property
When two spouses own a business together, it is considered to be marital property that will need to be divided as part of the divorce process. Some people think that because they own a business and their spouse does not, the business should be theirs to automatically keep. However, even if your spouse is not an owner, your business interests can still be marital property. This is true for:
- Interests gained during the marriage
- Increases in the value of the business ownership during the marriage
- Income earned from the business
Dividing Business Interests
There are different options for dividing business interests, depending on whether one or both spouses own the business. These include:
- A single-owner spouse keeps the business ownership, and the other spouse receives a greater share of the rest of the property
- Spouses who are both owners decide one will keep the company and the other will get bought out by liquid capital or a greater share of marital property
- Spouses who are both owners sell the business and divide the proceeds
- Spouses decide to keep running the business together following a divorce
Contact a Divorce Lawyer in Boca Raton for More Information
If you are getting divorced and own a business, there is too much at stake to risk not having a Boca Raton divorce attorney you can trust. Contact us online or call 561.869.3703 to learn how our team at Juliana Gaita, P.A., can help.
