Two of the biggest commitments in your life may be:
- Deciding who to marry
- Choosing to start a business with someone
So what happens when these decisions intersect, and you decide to start a business with your spouse? Some people thrive in this situation. They build their business and their marriage and family grows along with it.
Sometimes, though, marriages begin to fall apart, and the business the couple started together is stuck in the middle.
Deciding on a divorce when your spouse is your business partner can be very complicated. Doing it without proper legal representation can be devastating.
There are many important steps to dividing a business in a divorce, and every step of the way you will need help from professionals in order to get the business divided fairly.
First of all the business needs to be valued. The value will depend on many things including the type of business it is, and a thorough investigation of the business’ financial records.
Once a current and future value is ascertained, the business must be divided.
Our next blog post will go over the many options available to people who are dividing a business during their divorce.
If you are considering a divorce and your spouse is your business partner, you would be wise to contact a family law attorney like Ronald Johnston Law as soon as possible. Call us today at (503) 226-7986.
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