When Business Owners Get Divorced
Any divorce can prove complex in regard to the division of marital assets. When a business or professional practice is included in the marital estate, the legal proceedings only become more complex — and potentially contentious.
At the law firm of Wolfenson & Ashkenazi, P.C., we handle complex divorce and property division matters for clients in Union, Cedar Knolls and throughout surrounding New Jersey communities.
As a divorce attorney who also has a strong business law background, attorney Andrew Wolfenson understands how to protect his clients’ financial well-being in divorces involving businesses and professional practices.
What Was Your Role In The Business?
A business or professional practice is often the most valuable asset in a marital estate. One of the key aspects in divorce is arriving at a fair market value for that business. To calculate an accurate company valuation, we must take into account the business’s cash flow, profitability, assets, debt, customer base and many other factors.
In cases in which the husband and wife are both actively involved in the business, we must determine how, if at all, they will work together going forward. In many cases, only one spouse will proceed as the business owner, so, to achieve an equitable division of property, the other spouse will likely receive a greater share of the assets outside of the business.
Our clients include business and professional practice owners as well as spouses who, although not directly involved in the business, nevertheless contributed to the marital estate in other ways.
Whatever your role was and is in the business, we will advocate strongly on your behalf while seeking practical and amicable resolutions to any disputes that may arise.
We Handle Complex Divorces
With over 75 years combined experience, we are equipped to handle all the complex legal issues that arise when business owners get divorced. To arrange your free and confidential consultation with an experienced New Jersey divorce lawyer, please call us at 908-686-7230 or contact us online.