Getting a divorce can be a difficult process, regardless of the situation surrounding the end of a couple's marriage. However, there are some issues that can complicate the divorce process, and if they are not handled correctly, a case can become much longer, more drawn-out, and more expensive. Financial concerns related to the division of marital property can often lead to contentious disputes, and this is especially true in situations involving business ownership. Whether divorcing spouses own a business together, a spouse owned a business before getting married, either spouse has an ownership share in a family business, or a couple owns multiple types of business interests, it is important to understand how these assets will be addressed during the divorce process.
The law firm of Weiss-Kunz & Oliver, LLC provides experienced, dedicated representation during complex divorce cases. We understand the challenges that can arise when dividing business interests during divorce, and we work diligently to protect the rights and interests of our clients throughout the divorce process. We can work with financial experts to ensure that business assets are valued properly, and we will advise our clients on the solutions that will protect their financial interests going forward.
When Do Business Interests Need to Be Addressed During a Divorce?
When it comes to dividing business assets and other types of property during the divorce process, the first step is to determine which assets are considered marital property and which are separate property. Generally speaking, any asset acquired during the marriage is considered marital property, while assets that were acquired before the marriage or after the date of a legal separation are considered separate property.
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