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Do You Own A Business? Are You Considering A Divorce?

As part of a divorce, all assets and property are divided between the parties. Since California is a community property state, all marital property and assets are distributed 50-50 between the parties. This is why it is especially important for business owners to seek legal representation when getting divorced, as their businesses are an asset that is subject to division.I am Vista attorney William Sams, and I have more than 40 years of legal experience. As a business owner myself, I understand the owner’s point of view and desire to ensure the continuation of the business. Since a divorce can place the business in jeopardy, it is essential that you consult with a lawyer who can provide you with straightforward guidance and efficient resolution of the issues whenever possible.

Call me at 760-657-2257 or contact me online for your FREE INITIAL CONSULTATION to explore the options you have for protecting your business in a divorce.

Business Valuation

Since asset division in divorce occurs according to the value of all of the property and assets, the business must be properly valued as well. The process of obtaining a comprehensive business valuation may take some time. It is important to involve a number of professionals, such as business valuation experts and accountants, to ensure all aspects of the business are considered. Assets and liabilities must be accurately determined through careful examination of all paperwork, receipts, transaction records, payroll documents and any other essential documents. Once the overall value is determined, the property and asset division part of the divorce can proceed.

Exploring Options And Alternatives For Division

The way in which business division is best handled is on a case-by-case basis, as each individual has different goals and needs. Most business owners do not wish to close their businesses or break them up in order to satisfy the property division requirements of a divorce. However, it may be possible for us to negotiate other ways in which to handle the division of the business. In some cases, other property and assets may be transferred to the other spouse in lieu of damaging the business. When you meet with me, we can discuss your hope for the future of the business and the possible avenues through which we may be able to meet your goals.

Contact Me In Vista

Let me help you understand your rights as a business owner. Call me, attorney William Sams, at 760-657-2257 or contact me online for your FREE INITIAL CONSULTATION.