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How to Protect Your Business During a Divorce

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As a business owner, divorce can present unique challenges. When going through a divorce, it is essential to understand the legal options available and take steps to protect and separate personal assets from business assets.

An experienced high-asset divorce attorney can assist you in protecting your business interests during this time. If you are considering a divorce, call our firm at (201) 500-2151 to schedule a consultation with one of our attorneys.

Protecting Your Business Assets

Before you even begin getting a divorce, it is vital to understand the legal options available. For business owners, this means protecting and separating personal assets from business assets. This will help ensure that your ownership and control of the business assets are maintained throughout the divorce process.

Creating a Prenuptial Agreement

Before you even get married, including your business and its assets in a prenuptial agreement is another way to protect your business during a divorce. A prenuptial agreement is a contract that sets out the rights and obligations of each spouse regarding assets, property, and other financial matters.

This document can be used to specify which assets are separate property, which is marital property, and how they will be divided in the event of divorce or death. It is important to note that a prenuptial agreement must be validly executed and in accordance with state law.

If you and your spouse created a prenuptial agreement before marriage, review it with your attorney to determine if your business or its assets were outlined in the document. The inclusion of your business in a prenuptial agreement will outline what will happen to business ownership in the event of a divorce and must be followed during the property division process.

Creating a Postnuptial Agreement

You might have developed your business after your wedding day and now wish to establish a postnuptial agreement to protect your business interests. A postnuptial agreement is similar to a prenuptial agreement, but it is entered into after marriage and before the divorce.

A postnuptial agreement can be utilized in the same manner as a prenuptial agreement and should include an outline of how business assets will be treated in the event of divorce or death. It is important to note that a postnuptial agreement must be validly executed and in accordance with state law, which makes it essential that it is created with a skilled family law attorney.

Reviewing Marital and Separate Assets

In many cases, it is also important to review the assets you do own and their property classifications. During the asset division process, your assets will either be deemed separate property and acquired prior to the marriage or will be considered marital property and thus must be split equitably between spouses.

In some cases, separate property, such as a business started before marriage, might also have certain aspects considered marital property, such as the change in valuation of the business owner in the course of the marriage.

How Can I Prepare for the Divorce Process?

An experienced divorce attorney can help you understand how marital assets, such as a business partnership or ownership in a separate company, are treated under the law. With their guidance, you can protect your business interests by creating an agreement that preserves your rights and interests during the divorce process.

This agreement should include provisions for ongoing support and maintenance of the business, as well as the payment of attorney fees, court costs, and other necessary expenses. You will also need to consider how any inheritance or trust funds used for business purposes will be treated in a divorce settlement. At Herbert & Weiss, LLP, we understand that going through a divorce is a challenging and stressful process. We are dedicated to advocating for your business interests and helping you protect them through the legal process.

Unwavering Commitment to Delivering Results

At Herbert & Weiss, LLP, we understand the challenges faced by business owners during divorce proceedings. Our experienced team of high-asset divorce attorneys can assist you in protecting your business interests, creating an agreement that preserves your rights and interests, and advocating for your business interests in court.

We are committed to providing our clients with the best possible legal representation during this difficult time. To learn more about how we can help you protect your business during a divorce, please contact us today at to schedule a consultation with a member of our award-winning team.

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