Business Owners and Divorce

If you own or co-own a business, you probably have concerns about what will happen to it in your divorce. At Lite DePalma Greenberg & Afanador, our board-certified matrimonial law attorneys have extensive experience with divorces that involve businesses other complex business assets. We skillfully assist you with the many complex details you face:

• Valuing businesses
• Applying prenuptial agreements
• Complex asset division
• Joint ownership issues
• Buying out a share of ownership

We take a three-pronged approach to our law practice: listening to what you have to say, thinking about a solution and working hard to achieve it. Along the way, we prioritize outstanding client service as well as cost-effective methods.

What Will Happen To Your Business?

You have many options when it comes to what to do with your business entity when dissolving your marriage.

• Sole proprietorships: Even if you are the sole proprietor, the state considers business assets acquired after the marriage to be marital property and therefore eligible for equitable division. You will likely have your business assets valuated and distributed equitably.
• Joint ownerships: In a joint ownership, one spouse could buy out the other spouse’s shares, or the ex-spouses can continue to run the venture jointly.
• For partners or shareholders: Most likely, your share of business assets will be valuated and distributed equitably with your ex.

We understand the fears that come with dividing business assets. You want to receive the most beneficial outcome available while also adhering to New Jersey’s equitable asset division laws. Our team does everything in our power to negotiate, mediate, arbitrate or litigate a positive divorce arrangement.

Contact us to schedule an initial appointment.