Divorce Tends to Get Messy When Couple Shares a Business

April 18th, 2014

As we’ve mentioned before, divorce is often a messy process. If you throw in a jointly owned business, then the stakes can get even higher, which means the mess can get even bigger. That’s why having the right divorce attorneys in Portland Oregon is so important if you are going through a divorce.

According to the most recent census data, there are 3.7 million U.S. businesses that are owned by spouses. That scenario can be big trouble when it comes to divorce, especially for the business. Many times, when a couple that owns a business together decides to divorce their business can be negatively affected. One of the best ways to prevent this is to get a prenuptial agreement.

For those scenarios when a couple starts a business together after marriage, it’s a good idea to hire an independent appraiser to help determine the value of the business, which can also help determine how to split up its assets. Another thing to keep in mind is to never attempt to hide company assets in a divorce. This can get you into legal trouble and put you in even worse circumstances.

If you own a company with your spouse but you are heading towards divorce, then you need the experience and expertise of the divorce attorneys in Portland Oregon at Ronald Johnston Family Law. Click here to set up a consultation with us now, or give us a call today at 503-226-7986. We can help.

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