What happens with a business in a divorce?

For business owners, their own success and income is based on the success of their company. When business owners face a divorce, the process to accurately assess the business’s value can be complex. The process can also have high stakes, with business owners understandably worried about losing some of what they have worked so hard to create. What should divorcing business owners in Georgia know?

How businesses are divided in a divorce

The first step in the process is to calculate the value of the business, which will generally involve the use of a business evaluation. During this process, an expert will use one of a few different methods. At a basic level, the valuation will be based on the assets of the company, the income generated by it or a market analysis.

After the value of the business is determined, the divorcing couple and their attorneys will need to determine whether any portion of the business is non-marital. This could be due to one spouse starting the business before the marriage. Then, the divorcing couple will need to determine whether one spouse will continue to run the business, whether they will continue running it together or if another option makes the most sense. If one keeps it for themselves, that spouse will likely need to buy out the other one, which can be done in a variety of ways as well.

They are many people in Georgia who own businesses. In a divorce, determining how to most effectively divide a business can be one of the most difficult parts of the legal process. An experienced attorney can help guide business owners from the start to protect their interests.

 

How The Siemon Law Firm Can Help

Contact our Georgia Family Law Firm by calling 770-888-5120 or by completing this contact form.

An attorney will respond within 24 business hours.

    Fields marked with an * are required

    I Have Read The Disclaimer *

    Our Office Locations

    Map of office locations

    Cumming, Georgia

    347 Dahlonega Street
    Building 100
    Cumming, GA 30040 770-888-5120 Cumming Law Office Map

    Marietta, Georgia

    One Parkway Center
    1850 Parkway Place, Suite 715
    Marietta, GA 30067 770-888-5312 Marietta Law Office Map

    Alpharetta, Georgia

    4555 Mansell Road
    Alpharetta, GA 30022

    770-888-5093 Alpharetta Law Office Map

    Atlanta, Georgia

    3400 Peachtree Rd NE
    Suite 555
    Atlanta, GA 30326 770-888-5078 Atlanta Law Office Map