What Happens When Business Owners Divorce?
An essential part of any divorce case is the division of marital property, which includes the family home, vehicles, financial accounts, personal belongings, and more. The more complicated your marital property is, the more challenging it might be to divide it between yourselves. One factor that can make property division particularly complex is when spouses own a business together. Working for yourselves is often considered the American dream, and the right business venture can be lucrative and rewarding for you and your family. However, what happens if two business owners decide to get divorced? Business Interests as Marital Property Business interests – or at least an increase in the business value – are considered to be marital property in many situations, especially if you own a business together. If the company is the livelihood for both of you, how do you decide how to divide it? There are different common [...]