“Every small business is a family business because of the unique challenges facing the family of every entrepreneur.”
Protecting Your Business interests in Divorce
You have a thriving, successful business that was founded and built through hard work, dedication and sacrifice. When contemplating a divorce, it is essential to understand that your business is a family business. Regardless of who runs it, who nurtures it and who is responsible for its’ daily operations, that business is a marital asset. Therefore, your spouse has certain rights to that business. Consequently, there are imminent issues that must be addressed to protect that Business in the process of divorce and beyond.
Family Business and Divorce
We understand that the financial stability of your family depends upon the continued success of your business. We have tried and true strategies to help businesses and their families emerge from divorce with their financial future intact. We partner with other non-legal and legal professionals in every field to provide us and our clients the guidance, tools and expertise necessary to make the best informed decisions for your business and for your family every step of the way in the process of your divorce.
We also engage and collaborate with your business advisers and trusted professionals who are well aware of your individual business challenges and goals. These relationships are essential for us to understand the various facets of your business. This process serves to continuously identify and address past, current and future projections regardless of where you find yourself in the divorce process.
What We Do:
It is expected that emotions and tempers during the divorce process can become very heated. Unfortunately, this can cause both spouses to act impulsively and thereby the parties may often focus on the short-term goals, at the expense of long-term success. At ZM Law Group, while understanding and anticipating the emotional fallout, we guide you to stay on course. This approach ensures that your Business remains healthy thereby securing a financial future for your Business and your family.
Through careful analysis of your business, with the partnership of specifically chosen professionals in relevant fields, we use a comprehensive approach to negotiate with your soon to be ex-spouse. As part of our analysis we identify and tackle the following questions:
- Is leaving the business intact an option that can be negotiated with your ex-spouse while offering them a carefully customized appropriate and acceptable monetary compensation plan.
- Is selling the business and dividing the assets accordingly in your best interest, or is it better to buy the other spouse out based upon a professional valuation?
- Can the value of the business be figured into a larger property settlement?
- Can the form of payment from one spouse to the other for their interest in the business be accomplished in other ways in order to ensure continued health and success of the business?
These are only a handful of questions that form the backbone of a strategy that ensures the best possible results for keeping your family and your business emotionally and financially healthy.