Protection For Business Assets During Divorce Or Legal Separation
When facing a divorce or legal separation, one of the most important aspects is the division of assets. In cases where one or both of the spouses own a business, its value can make a significant difference in how all will be divided.
Undervaluing or overvaluing a business could lead to an unfair divorce award or settlement. The family law attorneys at Burbach & Stansbury S.C. can help you keep the scales balanced. You can work alongside experienced legal professionals who know how to ensure that business interests are properly valued and allocated.
Call us at 262-257-9110 to get started on valuing your business accurately. We serve Milwaukee, Waukesha, Ozaukee, Washington, Racine County and all of Wisconsin.
Accurately Estimating A Business’s Value
Many different factors influence how much a business is worth, such as:
- Market share and control
- Earnings and cash flow
- Susceptibility to economic conditions
- Position in the overall market
Understanding the business’ value makes a significant difference in property division, child support and alimony. Whether you are able to settle your divorce case or go to divorce trial, it is important that you have a legal team on your side that has the experience to address complex business matters.
Because each case is different, we take the time to fully analyze the details of your business’s value. With many professional accolades, our firm can ensure that you are provided with an accurate business valuation so that you can proceed with complete information.
What You Should Know About Businesses During Divorce
Your family business is the result of years of planning, hard work and dedication. Divorce can create chaos, especially when your business is primarily family-owned and operated. Even businesses that operate largely independent of the family can face challenges. Below are some questions our clients with business interests often ask.
Will my spouse get 50% of my business?
During property division, there are many different options for how to own and manage businesses. Your foundational business documents, entity type and structure will all factor in. While property division operates on principles of equity, that does not mean that you need to divide each asset in half. We can utilize other assets to keep your business intact and explore other options like buy outs and silent partnerships.
Do I have to sell my business?
Businesses are rarely sold as a result of a divorce. While you may choose to divest yourself of your business, you may also keep your business intact through negotiations, purchasing any parts of the business that are not “yours” or finding another creative arrangement.
What happens to our business debts?
Business debts are part of the business valuation as “liabilities.” These debts will stay with the business. If you took out a loan for your business under your personal accounts, that debt may enter into property division separately.
Does my business impact spousal support?
It can. The courts look at each person’s earning potential and relative ability to maintain their way of life. If your business was the sole income for your family or was a substantial part of your marital estate, that may factor into alimony based on how the business interests are divided.
Learn How We Can Help
You can enjoy peace of mind knowing our Milwaukee family law attorneys are diligently working on your case. Call the team at Burbach & Stansbury S.C. at 262-257-9110 or contact us online to discuss your business assets with us.