Business and Divorce: How Can I Maintain Ownership?

By Kantrowitz, Goldhamer & Graifman, P.C.Divorce attorney

Our attorneys work hard for business owners who are worried about losing ownership following a divorce. Photo of business in divorce

Keep in mind, in New York and New Jersey, if you own a business, it is subject to equitable distribution, meaning the first determination to make is whether the business interest is a marital property that should be included in a divorce case.

If a business is determined to be part of a couple’s marital property, it will need to be evaluated for a case financially. A fair evaluation will take into consideration issues like the lack of control, lack of marketability and lack of transferability, which will occur during a divorce.

Keep in mind, during a financial evaluation process, each side is entitled to have its own assessment performed.

While all of this may sound a little bit scary to an owner who has invested his or her own blood, sweat and tears into a business, if you work with our experienced attorneys, we will help guide you through this process, as you will receive expert forensic valuations.

Additionally, our attorneys may attempt to work on an agreement with your spouse as a way for you to maintain sole ownership of your business.

Recently, it was reported that actor Richard Gere and his estranged wife Carey Lowell are going through divorce proceedings. The couple co-owns a bed and breakfast together, but were reportedly able to reconcile an agreement that allows Gere to act as its sole owner.

How Can I Contact the Divorce Attorneys at KGG about My Business?

One of the most complicated aspects of any divorce case is the division of marital assets and possible alimony. These issues can be incredibly troubling for a business owner who does not receive top-notch legal advice.

Let our firm arrange your initial consultation. Call our family lawyers today at (800) 711-5258. Our attorneys will offer you creative solutions in order reach an evenhanded settlement if you own a business and are afraid of losing it to divorce.

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

Previous Post Next Post