Business Owners And Divorce
You have worked hard to be where you are at professionally. Understandably, you may fear losing everything including your business through a divorce. The best investment you can make is to select an experienced business valuation attorney in Minnesota committed to preserving your personal and financial interests.
Years of Experience Untangling Complex Financial Issues in Divorces
At the Minnesota law firm of Johnson Family Law, PLLC, we have 30 years of combined experience handling high-asset divorces involving professional practices and family businesses. We understand the fears keeping you up at night. Our business valuation attorneys are committed to addressing your concerns with real answers. During an initial consultation, we can walk you through the steps we can take to untangle the complexity of issues involved in your divorce. Contact our business owner and divorce lawyers in Saint Paul to learn how we can help you start the next chapter of your life without putting your financial interests at risk.
What Happens to My Business During a Divorce?
No matter where you are at professionally, we have the skills and legal resources to protect your personal and financial interests. Whether you are a doctor, attorney, entrepreneur, real estate agent or small-business owner, or are married to a high net worth business professional, we are here to help you start the next chapter of your life.
Unlike child support, property division is not based on a mathematical formula. Instead, many factors can come into play when determining how to handle your business assets and liabilities as part of your divorce. As a starting point, we can consult business valuation experts to understand the value of your family business, closely held business or professional practice. Several factors will be taken into account, including:
- Growth opportunities within your industry
- Value of your proprietary information
- Economic factors
- History and type of business you own
Once we understand the value of your business, this may inform the deal you may want to strike with your spouse. You may choose to sell the business and divide the proceeds between you two. In other cases, we have negotiated an arrangement to buy out the other spouse or continue operating the business together.
We can also consult forensic accountants to understand how your business property was handled during your marriage. Property division can be highly complicated when a business is involved. We have the skills, experience and legal resources to guide you through the process of protecting your financial interests.
Contact Our Ramsey County Property Division Lawyers Today
If you are a business owner heading toward a divorce, there’s no substitute for experienced representation. At Johnson Family Law, PLLC, we understand what you have at stake. We will take every measure possible to protect your personal and financial interests. Contact our experienced property division attorneys for an initial consultation in Saint Paul, Minnesota.