Solutions For Business-Related Divorce Settlements
A small or family-owned business is one of the most important parts of a business owner’s life. It not only provides a means of support, but the emotional connection a person has to a business he or she created is often very strong. This can create complications during the divorce process, particularly when determining how a business will operate post-separation and divorce.
At Palmer Lehman Sandberg, PLLC, our attorneys have significant business and family law experience. Our unique combination of skills and knowledge allows us to provide strong advice and creative solutions to each client we serve. We strive to provide the best client service possible while working quickly to provide resolution. This helps us relieve the stress and anxiety that arises during the divorce process, as well as allows our clients to move onto the next stage of their lives.
The Process Of Business-Related Divorce Settlements
The first step (and arguably the most important) in reaching a beneficial settlement is for both parties to cooperate and work together. This allows both parties to have significant control over the final outcome while keeping their own interests and the best interests of the business in mind. That being said, we are always prepared to protect the rights of our clients via a trial.
Next, obtaining an accurate valuation of your small business is often necessary to ensure the court arrives at a fair final asset distribution plan. Our firm works closely with business analyst experts and forensic accountants to arrive at a value that reflects a company’s current worth and future growth potential.
Next, we help clients answer important questions such as:
- Who will or should retain control of the company?
- Is it possible for both parties to remain actively involved in the business operations or profit?
- Are there any hidden assets that might affect a settlement?
- Is it better to dissolve or sell the company?
The answers to these questions, of course, will depend upon your specific situation. When you work alongside our lawyers, you can feel confident that you are receiving honest advice backed by decades of experience.