In many high net-worth divorce proceedings, it is not uncommon for at least one of the spouses to own a privately held business. In some cases, the spouses are co-owners of a business. Unless there was a prenuptial or postnuptial agreement to the contrary, each spouse likely has a claim to some share of the business in the event of a divorce.
Determining what portion of the business is subject to division and what that portion of the business is worth can be an extremely complex process. At Contreras Law Firm, our attorneys have extensive experience representing clients in all aspects of high net-worth divorce and complex property division. We understand what is at stake for parties on both sides of these matters, and we are diligent in our pursuit of a result that serves our clients' best interests.
Understand Your Rights Regarding The Division Of A Business In Divorce
There is a great deal of confusion surrounding privately held businesses and how they are treated in a divorce. Even if only one spouse is a business owner, and even if the business was established before the marriage, the non-owner spouse may still be entitled to a share of the increase in the business's value that occurred during the marriage.
If the spouses own a business together, decisions will need to be made regarding whether they will be able to work together after the divorce. In many cases, one spouse will buy out the other's interest and continue to run the business alone. We will work closely with you to understand your goals and do everything possible to help you reach them.
Business Owners Who Are Part Of A Partnership
These issues can become extremely complicated if the business owner is part of a partnership. If the other partners do not want an additional owner in the mix, it may be necessary to buy out the non-owner spouse's share. Whether you are the owner or the non-owner, we will do everything in our power to obtain the most beneficial result available.
Working With The Right Team
We work with a strong team of business valuation experts who have experience reviewing businesses of all sizes across a wide variety of industries. Valuations include a review of the company's property, assets, contracts and other considerations in order to determine the most accurate possible value. Once the value of the entire business is determined, we identify the portion of the business that should be considered part of the marital estate.
Contreras Law Firm | San Diego, California, Family Law Firm
Whether you are a sole business owner, a co-owner or a non-owner spouse, you can rely on us to seek a solution that provides you with the most benefit over the short and long term. Our substantial background in business law puts us in a strong position to provide you with the reliable representation you need during this critical time.
Contact our San Diego office today to schedule a free initial consultation with a lawyer.Back to Top