In many family-owned businesses, both spouses contribute to its success. Even if only one spouse runs the business, the other spouse often contributes in many ways – by participating when needed, raising the children so the other spouse can focus on the business, helping to market the business, and more. Therefore, addressing how family business assets are divided in a divorce is not a simple matter. If you are a business owner who is considering divorce, you are probably wondering how your business will be distributed and how its value will be affected during the process.
Rosanne DeTorres, Esq., answers your questions on our webinar, Businesses, Business Owners and Divorce, as she discusses family law for business owners and strategies you can use to prevent losing your business.
Answering Business Owners’ Questions About Divorce
We will review the determining factors that go into the decisions surrounding divorce and business owners including:
- Equitable distribution rules for businesses including the three-step process for distributing assets and liabilities
- Equitable distribution of a business and its relationship to alimony
- Determination of standard of living and income from business
- Business valuation methods including the income, asset, and market approach
- Business distribution methods including buy-out, co-ownership, and selling the business
- Relevant tax issues for business owners and divorce
- Seven strategies to consider if you are heading for a breakup
- 5 preemptive strategies to prevent you from losing your business in a divorce
Although each case is different, we will provide a comprehensive view of common ways to handle a business during a divorce.
Download our webinar today to get your questions on divorce and LLC ownership answered.