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Business Co-Ownership and Divorce: What Do I Need to Know?

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Kantrowitz, Goldhamer, Graifman, Perlmutter & Carballo, P.C.

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Written/Reviewed By:

Barry S. Kantrowitz, Esq.

Last Updated: Jun 12, 2026

Read Time: 3 mins

Are you a successful business owner facing a difficult decision about divorce? Are you scared that you may lose the asset you have worked so hard to keep?

The division of marital assets is one of the most complex issues in any divorce case. Things can become heated when complications with investments and business ownership arise.

This may be especially true if you share ownership of a business with multiple people.

Remember, any business in New York or New Jersey is subject to equitable distribution, and the first determination to make in any divorce case is whether the business interest is a marital property that should be included in the case. If you own a business with a partner, your share of the business could potentially be divided.

This is why working with an experienced attorney is so important—you do not want to lose out when it comes to your share of business ownership.

Keep in mind, each party in a divorce has the option to bring in specialists to review financial documents and ownership materials. Working with an experienced lawyer can help you circumvent issues that may arise during this period.

A Complicated New York Divorce Involving a Business

Want an example of how things can become difficult in a divorce case involving business co-ownership?

Recently, the New York Post reported that a Queens judge brought the co-owners of a Manhattan parking garage into a divorce battle.

The divorce involves a man named Benny Tal, a co-owner of the garage, and his estranged wife, Michal. After auditing business documents for divorce purposes, an accountant allegedly found that the operators of the garage had a large amount of cash that went unaccounted for, for tax purposes.

In addition to the discovery of missing cash, it was alleged that Benny and his partners conspired to shorten Michal out of her share in the business following her divorce filing, intentionally low-balling her alleged $1.6 million share in the garage to $250,000.

Eventually, because of the dispute and alleged crime, an arrest warrant was issued for Benny. Michal also filed lawsuits against the other business owners for their alleged fraud.

Should I Speak to an Attorney About a Divorce and My Business?

As we stated above, divorce is a very complex process that requires top-notch legal representation. Issues involving asset claims can become incredibly stressful if you do not receive proper guidance and you co-own a business.

Luckily, our law firm has a reputation with results you can count on. Make sure you receive expert legal guidance or you may lose out. In fact, almost 50 percent of the dissolution matters we handle at KGG involve a family owned business. Don’t learn from your lack of experience, depend on our four decades of knowledge.

Kantrowitz, Goldhamer, Graifman, Perlmutter & Carballo, P.C. – Divorce Attorneys

Source: http://nypost.com/2015/01/26/business-partners-get-roped-into-divorce-battle/

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   LWelsh 
 1 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Clever and efficient.
  
 
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   Kenny Perlow 
 22 days ago
 
 
 Trustindex verifies that the original source of the review is Google. KGG Law, and Barry Kantrowitz in particular, set the bar high for what a thorough, practical, strategic, compassionate and smart lawyer can be. Everything about Barry's advice and representation was exemplary and the stress mitigation that resulted was invaluable. On top of that, the ultimate result Barry achieved was beyond what was reasonable to expect and we are forever grateful. Often, people say that you hire a lawyer to prevent a problem. Sometimes, unfortunately, you need an attorney to solve a problem and I could not recommend Barry and his firm any more highly in that regard.
  
 
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   Aliza Ali 
 86 days ago
 
 
 Trustindex verifies that the original source of the review is Google. My dad had a great experience with this law firm. From the very beginning, the team was professional, knowledgeable, and always willing to answer our questions. They kept us informed throughout the entire process and made what could have been a very stressful situation much easier to handle. We truly appreciated their dedication, honesty, and hard work. Thanks to their support, my dad felt confident every step of the way. We are very grateful for everything they did and would highly recommend this firm to anyone looking for reliable legal representation.
  
 
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   Jana Montero 
 89 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I had a wonderful experience working with Sam Smith. He was very responsive, thorough, and easy to work with from start to finish. He walked me through everything clearly and made what started as a very stressful situation for me into something completely manageable. I would not hesitate to recommend him and the firm!
  
 
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   Mike Sakmann 
 95 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I sought legal advice regarding an employment matter and had an excellent experience working with Sam Smith, Esq. at KGG Law. Sam was thorough, attentive, and took the time to listen carefully to my concerns before providing clear, thoughtful guidance. I appreciated the professionalism and care shown throughout the process, and I would confidently recommend KGG Law to anyone in need of legal assistance.
  
 
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   Liz Hecker 
 101 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I can't say enough about this firm. They manage to comfort you during the whole legal process while staying professional and doing what is right. I would recommend them to anyone and also hire them again if I need legal help.
  
 
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   Brandy Miller 
 124 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Kate is the best. She helped me very quickly, and was very attentive with all of my needs. So thankful for her
  
 
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   Mike Greenspan 
 137 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Kate Carballo is a dedicated, passionate, and creative attorney whom I had the pleasure to lecture with at a state trial lawyer's conference. Kate's lecture demonstrated how she uses her innovative and "out-of-the-box thinking" to achieve outstanding results for her injured clients. That Kate is certified by the Supreme Court of New Jersey as a civil trial attorney is a testament to her skills, experience and commitment to excellence.
  
 
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   Jonathan Sampson 
 144 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Was referred to KGG law by a friend and could not have asked for better legal representation. They walked me through every step of the process after my accident and began every call with “ how are you feeling” which was just one example of how much they care about their clients. They handled my case very efficiently, professionally and courteously. My attorney Kate Carballo was a rock star! So clearly experienced, she consistently made me feel at ease with the process. Highly recommend
  
 
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   Vinnie Kung 
 147 days ago
 
 
 Trustindex verifies that the original source of the review is Google. We had a great experience with the team at KGG Law. While it was a traumatic time for our family, they made it very easy for us and explained all of our options. They even performed due diligence to make sure that after our settlement, there would be no further issues which I think is even more important than the settlement itself. Thank you!

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Business Co-Ownership and Divorce: What Do I Need to Know?

A Complicated New York Divorce Involving a Business

Should I Speak to an Attorney About a Divorce and My Business?

Why Trust Us?

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