Divorce And My Business
Dealing with a business in divorce is a complicated matter. Unlike some assets, a business or major stake in a business cannot easily be divided, which means it takes not only legal knowledge but a strong understanding of business law to address. If a business is part of your divorce, the best way to protect yourself is to work with a lawyer who understands complex property division.
I am attorney Michael E. Eisenberg, and I have been handling high-asset divorces in Pennsylvania since 1987. I know the law, and I work closely with experts, including business valuation experts, to ensure that your business is addressed in a way that is fair and professional.
Determining Marital And Nonmarital Business Assets
Many factors affect whether all, part or none of your business is considered a marital asset. Whether you and your spouse owned the business together in a formal partnership, whether you acquired the business during your marriage or before your marriage, and the success of the business during your marriage are just three of the many factors that will be used to determine how much of your business is considered marital property.
What Are My Options?
There are several ways to approach a business in divorce. Depending on certain factors, including how amicable your relationship with your former spouse is, you can:
- Sell the business and divide the profit fairly
- Remain partners and continue to run your business together
- One of you can buy out the other and take over the business
Schedule A Free Consultation Today
I have the knowledge and experience to handle a divorce involving a business. To arrange a free consultation, call my office at 267-728-4535 or toll free at 800-851-2534. You can also contact me online.