Marriage is the act of two becoming one, but sadly, this does not always have the happy fairy tale ending. We at Family Divorce Solutions seek to help people maintain their marriage, and if not, how to keep the proceedings out of a family court to the best of our abilities.
Most marital property is divided between the two partners. In the case of a business, this becomes much more difficult. This blog will help you determine who gets what in the case of divorce and a business.
Who gets what?
This is up to the judge and is determined by several factors. A qualified attorney in your state can answer specific questions. Generally, however, any community assets are shared between the two regardless of who paid for what.
What about the business?
This is why an attorney may be a good idea. A business is a community asset depending on factors like when it was started, and how it was financed. How much of the business that will go to either party will depend on the specifics of the judge, attorneys and your specific state. This can quickly become expensive.
Ownership before marriage is separate, and the same is true for inheritance. A business owned, inherited or left to a party is considered separate.
Do I need an attorney?
This is a valid question. It is strongly recommended to come to us at Family Divorce Solutions before contacting a divorce attorney. If you are absolutely certain the marriage is beyond repair, we can help make important decisions and choices without a lengthy court battle. We have plenty of attorneys who are experienced in all fields of family, business, real estate and divorce law.
Contact us via phone, email or visit the website to learn more. We want to help you make this process smooth and painless for all involved.